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40 of the world’s biggest banks are experimenting with blockchain

March 4, 2016 - Uncategorized

CNBC reports that 40 of the world’s leading banks, including Goldman Sachs and Barclays, have been experimenting with blockchain technology – the decentralized database system that records bitcoin transactions – for trading fixed income assets. While the technology is still undergoing trials, this is a positive sign that major financial institutions are considering possibilities for wider integration. Blockchain functions as a transparent online ledger that stores transaction history on a global network shared by all participants using the system, making it difficult to tamper and manipulate records. Besides improving security, blockchain will also allow for an increased number of transactions as the technology could settle trades in a…

This story continues at The Next Web

Source: The Next Web

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