1.) What’s problems can Blockchain solve for the banking industry?
Blockchain technology can increase transaction speed, improve record keeping, increase security by provide granular permissions to use personal data and more.
2.) Why does the banking industry need Blockchain?
Blockchain can potentially save banks billions by dramatically reducing processing costs and increasing processing times.
3.) What are the top use cases for Blockchain in the banking industry?
The top use cases for blockchain in the banking industry are:
- Fraud Reduction
- KYC (Know your Customer)- independent verification of the clients
- Facilitating payments
- Facilitating smart contracts involving payments
- Trading Platforms
4.) What are the top companies using blockchain to disrupt banking?
- Bitpay, a Bitcoin payment service provider helping merchants accept Bitcoin payments.
- TenX, a platform consisting of of a wallet, physical debit card, bank account, ATM access, and more and offering free spending and exchange fees.