Writing on the bank’s official website, ABN AMRO Head of Innovation Arjan van Os, praises the blockchain technology behind Bitcoin in an article titled “The Next Big Thing.”
Dutch state-owned ABN AMRO Bank is a product of a long history of mergers and acquisitions that date to 1765, making it one of the oldest active banks. In 2007, ABN AMRO was the second-largest bank in the Netherlands and the eighth largest in Europe by assets. Then the bank was acquired by a consortium of international banks and eventually bailed out and nationalized by the Dutch government, which expressed intentions to restore private ownership at due time.
“Fasten your seatbelts,” says van Os. “What the Internet has done for information and the way we communicate, the blockchain will do for value and the way we look at trust. The financial world is going to flip upside-down.”
The article summarizes the unique advantages of blockchain-based financial technology, which today are recognized by the mainstream financial establishment: faster and