Technical innovations behind the coins will provide the impetus for existing financial world, just as predicted by a former Wall Street Executive Officer: it will subvert and destroy the Bank.
”The database block chaining (blockchain) technology pose a financial challenge. “From a DIGital ASSEt Holdings Company of Blythe Masters on Tuesday by CNBC and Exponential Finance Conference sponsored by Singularity University joint conference here said. “This technology will change the way we operate in the financial markets. ”
Masters claim that the coins of the underlying technology has the opportunity to help companies improve settlement delay with security of the system, she said, financial database application market will reach “trillions” scale.
Get the publicity for your company at the same time (she says her company is committed to reducing the database development field and the gap between financial services), Masters said, in order to learn the technology, major financial companies “are starting to invest a lot of time and effort.” Zhiqian, Masters is a former JPMorgan Chase executives.
From Brian Kelly Brian Kelly Capital company said the past six months, “everybody is aware, bitcoin can be not just a currency. “He added:” every dog has his day. Handheld check investors are concerned about the application of this technology. ”
Six months ago, CNBC issued a report saying, more and more investors and technologists said called “database link” support bitcoin technology will eventually be more revolutionary than coins currency.
Now, including Seagate, NASDAQ, Overstock, IBM, Samsung, UBS, Barclays Bank, Banco Santander, and Intel, including 33 major banks and technology companies have dabbled in this area.
Is because of a database block chain, bitcoin found confirmation of the transaction:
Company
Blockchain technical area of interest
Banco Santander
Development of blockchain potential
Barclays
Accelerator blockchain company
BNY Mellon
Attempts to implement currency rewards
IBM
Samsung together, committed to the development of blockchain technology-based “Internet of things” e-cash vouchers
Intel
Recruitment of decentralized accounting staff
NASDAQ OMX
Carrying out enterprise-wide blockchain planned
Overstock.com
Plan operations based on blockchain technology of stock exchange
Qualcomm
Investment 21
Samsung
IBM jointly developed based on blockchain technology is based on the “Internet of things”
Seagate
Investment Ripple Labs, go directly to
Blockchain field
The Federal Reserve
Reportedly is in talks with IBM electronic cash voucher
UBS
In the study of London lab blockchain
Western Union
Ripple, developing hand in hand project
This technology could set a record for all currency transactions, records and set immutable. In order to instil in people a twice-no one will consume bitcoin (compared to real bills, people worry that electronic billing is billing twice) belief, the book must guarantee absolute security, tamper proof. Through regular synchronization with servers around the world, it achieved the feat–and this feat so far impregnable.
This irreversible, transparent bookkeeping function, giving a potential basis for blockchain as other technologies.
Different inputs in this field are also very different. A company Executive told the CoinDesk leaks, Seagate has invested Ripple Labs become the field of blockchain “an active participant”. In a proof of concept paper, IBM and Samsung blockchain technology in the emerging “Internet of things” field devices (for example, “smart” appliances) security a level.
In the field of financial, NASDAQ launched a plan in a company-wide, full use of blockchain technology. NASDAQ said, is expected to begin later this year using this technology, create a management account.
NASDAQ Chief Executive Robert Greifeld told the financial times that he hopes the NASDAQ as a leader in the field. However, because several financial companies are trying to enter the blockchain, competition is inevitable. BAT together securities company net big money
This technology is committed to providing resources and information transfer security, eliminating the need for credible intermediaries link. Kelly said that despite financial acceptance slow with this technique, but financial firms began to accept it as a cost-saving tools.
Database block chain or even attract attention from Virgin’s Richard Branson. Last week, he was held in the British Virgin Islands on your own private island Blockchain to the General Assembly. In this Conference, as the currency one of the five core developer Jeff Garzik told CNBC in an interview. He has been replaced by coins mystery Satoshi Nakamoto, founder, head of maintenance database block chaining technology.
”Even if we go very far, the technology is still in its early stages,” said Garzik. “It’s still in the early, about 1990, years before the Internet era. ”
The following table lists some block chaining technology large companies gain access to the database:
Companies concerned about currency blockchain technology list (excerpt)
Source: CNBC, and Reuters, and CoinDesk and the WSJ and Wired
Garzik Dunvegan is currently a full-time officer of Space Systems, he predicted massive blockchain application will ultimately contribute to a for the formation of a large number of new science and technology infrastructure, which is the same as TCP/IP—-the basic communication language of the Internet.
”Now you don’t have to talk about TCP/IP: this is at the bottom of the money network. You don’t have to say ‘ we use the coins ‘, you have to say is ‘ we use this infrastructure. ‘ You like to talk about money network or something like that sort of thing, you do not talk about blockchain itself. ”
Bitcoin can live?
In some parts of the business community, people like blockchain technology, do not like coins, such restraint is a common phenomenon. This means that highly volatile currency is not the ideal investment target, but supports bitcoin technologies may change the world. However, bitcoin lover stressed that they are not, you’re not one of the two.
Although this is not true-a new technology of blockchain may be based on a new currency–almost every technical concept requires some kind of voucher in order to function. Coins cannot be surpassed: by virtue of penetration and their long history, compared to the coins will have several times the quantity of any virtual currency.
Independent blockchain technology has been derived from a variety of applications, but most of the application periodically and currency data links are bundled together, in order to improve its own security.
As a kind of currency, coins are maturing: enterprises are promoting the currency derivatives and a bitcoin start trading on OTCQX market linked investment tools.