Have A Look On These Banks That Will Follow Blockchain Technology

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Have A Look On These Banks That Will Follow Blockchain Technology

Have A Look On These Banks That Will Follow Blockchain Technology. Since, due to the popularity of cryptocurrency like bitcoin and its massive influence on the global market, some banks across the world are showing their interest in following blockchain technology. Today, banks and other financial institutions are struggling with fraud and privacy issues. Cryptocurrency provides a digital platform that can make their transaction services more secure. Blockchain technology is the backbone of cryptocurrency which uses cryptography. Today, there is a group of banks that will follow blockchain technology as they have some trust in the potential it has to make the transactions secure. Here is the list of some big banks that are more likely to look at the positive side of this technology.

List Of Banks That Will Follow Blockchain Technology

1. Citi Bank

 Founded in the year 1812, Citi Bank is a trendy bank located in New York, and after that became First National City Bank of New York. The bank has more than 700 branches in the USA and thousands of others in 19 countries. According to the latest blockchain updates, Citi bank will be most likely to adopt blockchain technology as it is testing its cryptocurrency which it calls as Citicoin. It was also revealed that the Citi bank had created almost three blockchains to put its own cryptocurrency in the test.

2. BNP Paribas

It is a banking group located in France. Today, this bank is operating in more than 70 countries across the globe. Reports say that the bank has involved itself in the crypto field and will be more likely to use bitcoin as one of its currency funds. The bank is still doing its research on blockchain technology.

3 Société Générale

The bank is headquartered in Paris(France) and is the leading investment bank of the country. It was founded in the year 1864. Currently, the bank is looking for developers related to the blockchain field. Although their advertisement didn’t provide many details, the job was more relevant to development and research.

4 Goldman Sachs

It is one of the most popular investment banks located in the USA in the year 1869. The bank has headquarters in New York. This investment bank provides service in the field of asset management, brokerage, investment etc. In recent years, Goldman Sachs has shown some interest in the future and power of blockchain to change the banking industry. According to some reports, it sees bitcoin as a commodity rather than the currency itself.

5 Barclays

Barclays is the London based investment bank that were founded in the year 1896. The bank provides its services related to wealth management, asset management etc. Barclays has revealed that it is doing its research in bitcoin technology. The bank has also agreed with Sweden based bitcoin exchange, Safello and has also opened the way for startup projects related to blockchain.

6 UBS

UBS also called as Union Bank of Switzerland and was founded in the year 1862. Recently, the bank has seen the potential of cryptocurrency as a digital medium for doing secure transactions and is going to open a blockchain-based technology research lab where it will be experimenting and researching in this new technology. The bank is somewhat positive towards the adoption of cryptocurrency.

7 Standard Chartered

It has its headquarters in London with more than thousands of branches operating in 70 countries. The bank provides its financial services in treasury management, corporate banking etc. Standard Chartered has recently given its positive opinion on blockchain technology, indicating how it will lower the fund transfer and remittance costs.

8 Banco Santander

The bank is headquartered in Boadilla del Monte(Spain) and was founded in 2004. It is a multinational commercial bank providing its financial services in various countries mainly located in North America and South America. This banking giant is recently researching blockchain technology and cryptocurrency. The bank has reported some of its opinions in blockchain technology and its application to the banking industry.

Conclusion

As we have seen so far how blockchain is going to change the future of doing the transactions, some of the most popular banks around the world like BNP Paribas, Goldman Sachs, Barclays etc. are seeing the potential of this technology by doing research and experiments to make blockchain more better for their services. It is seen that these banks are in the race to follow blockchain technology. According to the latest crypto discussion, Citi bank has taken a further step and is researching its currency. Many of the banks are in their way of adopting blockchain as their mainstream technology. It can be said that blockchain will be the future of payment in the future.

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