30 Sep '15, 10am

Dutch Bank’s Innovation Chief Dismisses Bitcoin

The head of innovation at ABN Amro has said the Dutch state-owned bank wants to stay away from bitcoin, but is interested in blockchain technology. According to a report , Arjan van Os, the head of the bank's innovation centre, cited the bitcoin's associations with drug trafficking and illicit activities as the reason behind the bank's decision to distance itself from the digital currency. He said: "We want to prevent bitcoin's poor image reflecting on what we do with the blockchain, it's underlying technology. We see many opportunities [in the blockchain]. Bitcoin itself is outmoded." His comments follow an article , titled 'The Next Big Thing' and published on the bank's website in which he explained the basic principles of distributed ledgers and posed the question of how banks could remain at the forefront of innovation. "[Blockchain technology] has been tested, it is ...

Full article: http://www.coindesk.com/dutch-banks-innovation-chief-dism...

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