BNP Paribas and Bank of Ireland Conducting Blockchain Trials
BNP Paribas and the Bank of Ireland have started trial runs for their respective blockchain applications. BNP Paribas has partnered with a crowdfunding platform, Smart Angels for the same. The banking sector is finally making some headway with their exploration of blockchain technology. Soon after UBS and Deutsche Bank made an announcement about the success of their blockchain technology experiment, two more international banks have now come up with their own solutions and testing them out. The French banking firm, BNP Paribas and the Bank of Ireland are the duo who have brought their....
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Writing onQuintessence, the financial magazine of BNP Paribas, financial securities research analyst Johann Palychata analyzes the possible impact and future implications of the blockchain for securities markets. He believes that Bitcoin is really an innovation and a disruptive open-source technology for the financial world. "Its core is the first successful attempt for a secure and decentralized register," says Palychata. "It should be considered as an invention like the steam or combustion engine. ". BNP Paribas, a French bank headquartered in Paris that was formed through the merger of....
Bitcoin continues to push deeper into mainstream currency trading with BNP Paribas, France's largest bank. The bank is testing bitcoin for one of its currency funds, according to International Business Times UK. A source at BNP Paribas told IBTimes UK the bank has been "beta testing" crypotocurrency with one of the bank's currency funds in Paris and will make an announcement about it shortly. Spokesperson Cites Block Chain Technology. "We are looking at blockchain technology and how it can be applied to post trade processes to make things faster and potentially cheaper but it's all very....
[UPDATE: Comments from a BNP Paribas spokeswoman since received by IB Times state that the bank “is looking at blockchain technology and how it can be applied to post trade processes to make things faster and potentially cheaper,” but stopped short of intimating any direct interaction. “… [I]t's all very much projects and it's all in testing. It's nothing live,” she added.] Original article: BNP Paribas, France’s largest bank, is set to announce it is adding Bitcoin to one of its currency funds in the coming weeks. A source for the International Business Times told the publication that....
This is another clear example of why users should not keep their funds in a bank account. Holding cash is becoming a less favourable option for many customers around the world. Charging fees on cash deposits is becoming the new norm in Germany, and more of them will follow in the coming months. So far, two more banks have taken this route, including the Bank of Ireland and Ulster Bank It looks like the negative interest rates will be passed on to customers who make cash deposits. It was only a matter of time until the negative interest rates would be passed on to the customers. Not only....
French banking services group BNP Paribas hosted a development event last month focused on blockchain technology. Held in Paris on 21st and 22nd January, the gathering focused on use cases related to trade settlement, smart contracts and supply chain management, among others. BNP Paribas is one of a growing number of financial institutions worldwide looking to implement and develop the software that underlies bitcoin. The bank took part in the recent funding round for New York blockchain startup Digital Asset Holdings, and is a member of the blockchain consortium organized by R3CEV.....