Because of fears, Bitcoin could damage the traditional financial system, the major banks have initially understandably rebelled against the digital currency and their skepticism manifested publicly. Also the slowly burgeoning interest of banks is less than the Bitcoin currency, but the technology dedicated as a closed database system. Some banks have already established their own laboratories to test the various block chain and other decentralized cashbooks to perform.
It remains to be seen how this test run, but it is already clear that some of the largest banks show great interest in the technology. Here are some of the largest institutions that have announced their interest in the technology publicly:
Ken Moore, Head of Citi Innovation Labs told in an interview with the International Business Times that the eighth largest bank in the world, observed the technology behind Bitcoin for several years, and examined in more detail. Moore also said that the Bank had already created three separate blockchains in a closed system and is currently running test with the specially developed Citicoin. In September, the Citi Bank wants to announce details on the plans with the digital currencies in the Consensus CoinDesk conference in New York.
Barclays has supported in the past crypto companies. In March this year, the Bank has recorded three startups in their support program, which deal with the blockchain technology. Just one month later praised Usama Fayyad of Barclays Bank publicly the blockchain technology and referred to during the SWIFT Business Forum in London on the “transformative” potential.
According the International Business Times, the French BNP Paribas Bank operates currently on plans that include an integration of Bitcoin to one of its Monetary Fund.
Previously, the analyst Johann Palychata write an article already in the internal Bankmaganzin whether the block chain will interfere or revolutionize world trade.