Blockchain: How Banks Will Utilise Blockchain Tech
- 5 years ago
Blockchain: How Banks Will Utilise Blockchain Tech
During the financial crisis of 2008, the trust between banks and consumer fell on hard times and some of that still lingers to this day. A lot of banks had mismanaged their clients’ funds and it was time for something new. A lot of startups came flooding in and provided mobile-first banking solutions, UI/UX friendly but the issue of human error was there.
We’re all human, we make mistakes from time to time, there’s no shame in it but during this time, some new technology was being introduced to the world. It was this technology that allowed third parties to track transactions in a public ledger and move money across borders at a much quicker speed.
During the financial crisis of 2008, the trust between banks and consumer fell on hard times and some of that still lingers to this day. A lot of banks had mismanaged their clients’ funds and it was time for something new. A lot of startups came flooding in and provided mobile-first banking solutions, UI/UX friendly but the issue of human error was there.
We’re all human, we make mistakes from time to time, there’s no shame in it but during this time, some new technology was being introduced to the world. It was this technology that allowed third parties to track transactions in a public ledger and move money across borders at a much quicker speed.