There was an event hosted by my bank about the impact that blockchain will have in the future.
It was a very positive experience.
But maybe not for them :)
I was slightly surprised because they admitted they have a problem.
Under current circumstances and the disruption blockchain is causing they know they will have a hard time surviving in the future if they themselves don't innovate.
(I feel the same way but I was surprised they admitted it. For example: I would happily accept crypto as payment and I know when enough people feel this way no bank is needed for transfers, just like a postal service is no longer needed for sending letters for instance (because of email)).
This is a far cry from the rhetoric we have been hearing about how awful this tech is.
They started the presentation with explaining what blockchain is and how it can be applied in daily life.
They talked about smart contracts, the internet of things and money transfers.
They even admitted that blockchain will reduce the amount of 'trusted 3rd parties' in the future. (like a bank).
They also gave 10 examples of projects that currently are being developed. (like Arcade City, Guts, Mediachain) where this tech could be applied.
So far so good.
But as you might know, I wanted to go there because I was mainly interested in how this bank will see it's own roll in this new era.
I got my answer.
They are pointing their arrows at private blockchains (controlled by businesses) and helping them to set it up. They are invested in several projects.
(A private blockchain differs from a public blockchain, like steem, because (simply said) it's controlled by a company and you can't see all the transactions as an individual).
But they only have one that semi-works and they are in a pilot phase. It's called: https://www.we-trade.com/.
Just look at that tagline! Together, we trade! O yeah!
I asked a question if they use an existing blockchain technology or if they are building their own blockchain.
Sadly, they didn't know the answer.
They couldn't even say what it is about this project that will change things (I'm not lying, they did not know).
And that was it.
In the end, what I got from this event, is that we don't have to fear that this bank will disrupt or take over this space in any way.
They better innovate more or they are doomed.
Blockchain is moving too fast.
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