30 Dec '15, 3pm

2015: A Blockbuster Year for Bitcoin's Blockchain Technology - Nasdaq

2015: A Blockbuster Year for Bitcoin's Blockchain Technology - Nasdaq

Even India’s apex bank, the Reserve bank of India (RBI), which had issued a warning regarding cryptocurrencies two years ago, seems to be charmed by the blockchain technology. According to a report by the RBI , “With its potential to fight counterfeiting, the ‘blockchain’ is likely to bring about a major transformation in the functioning of financial markets, collateral identification (land records for instance) and payments’ system.” It further said, “Regulators and authorities need to keep pace with developments as many of the world’s largest banks are said to be supporting a joint effort for setting up of ‘private blockchain’ and building an industry-wide platform for standardising the use of the technology, which has the potential to transform the functioning of the back offices of banks, increase the speed and cost efficiency in payment systems and trade finance.”

Full article: http://www.nasdaq.com/article/2015-a-blockbuster-year-for...

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