Deutsche Bank: Blockchain Tech Will Go Mainstream in Next Decade
Deutsche Bank believes that blockchain technology will become more widespread over the course of the next ten years. The comments come after the German banking giant carried out a blockchain-based experiment that focused on programmable bonds. While declining to disclose the two providers that worked with the bank during the experiment, Deutsche Bank told CoinDesk in an email: "The test [a proof-of-value] is successfully completed. The corporate bond was ideal to test blockchain on the lifecycle of an asset (issuance, coupon payments, redemption), hence why we chose it; at this stage, we....
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Deutsche Bank is exploring the use of the blockchain for a variety of potential applications, according to a recent letter from the German megabank. The bank was one of a number of respondents to a call for evidence by the European Securities and Markets Authority, which is currently establishing how it will regulate digital currencies. The EU securities watchdog issued a request for feedback in April. The bank declined to comment when reached. According to the letter, attributed to global head of regulatory policy Daniel Trinder, Deutsche Bank sees the blockchain as "an area where we have....
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The Deutsche Bank analyst's comments are another sign of bitcoin's increasing acceptance in the mainstream of finance.
The number of banks experimenting with blockchain technology and looking at their own digital currencies is growing by leaps and bounds, so it’s no surprise that Deutsche Bank is well on its way to having its own blockchain technology. In a recent statement, the bank was quoted as saying: “Banks must partner with fintech and digital currency businesses or risk disappearing altogether.” Although Deutsche Bank is a member of the R3CEV consortium of 42 banks that is developing a protocol for blockchain technology for the banking sector, the bank has been quietly running its own blockchain....