29 Jan '16, 9pm

Bankers weigh #blockchain challenges at bny mellon event #bitcoin #crypto #cryptocurrency

Bankers weigh #blockchain challenges at bny mellon event #bitcoin #crypto #cryptocurrency

BNY Mellon hosted a blockchain event at its Jersey City, New Jersey, campus on 28th January, an event that, while small in terms of the number of attendees, could have a potentially huge impact on how the bank does business in the months and years ahead. Like many other financial institutions in the world, BNY Mellon is weighing how to apply the code that underlies bitcoin to new use cases. Last year, the bank revealed that it had used its own digital currency for an internal rewards pilot. During remarks before the presentation, BNY Mellon chief information officer Suresh Kumar argued that rather than being replaced by the technology, blockchains can help institutions like BNY Mellon pursue new lines of doing business. He told attendees: "When I think about the blockchain, and sometimes people treat it like its a disruption that's going to kill all the financial instituti...

Full article: http://www.coindesk.com/bny-mellon-event-bank-blockchain/

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