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4 Dec 2014
Top Dutch Banks confirm blockchain experiments – CoinDesk
FXStreet (Barcelona) - The CoinDesk Analysis Team notes that three Dutch banks have announced that they are experimenting with blockchain technology as a way of improving their payments systems.
Key Quotes
“That ING, ABN Amro and Rabobank are all testing the technology was aired last Monday in a segment on the Netherland's popular RTL evening news. ING's global head of transaction services Mark Buitenhek (pictured) told RTL that his bank has been improving on technology that was built in the '70s and '80s, explaining: “We have improved the speed of transactions since then, up to where we are today," he said. "As such, we are always looking out for the latest technological breakthroughs to improve this even further. This is why ING is testing blockchain technology.””
“ING spokesman Robert Gunther added the company is always trying to innovate and improve the speed and utility of money transfers for customers. Framing the blockchain technology underlying bitcoin and other cryptocurrencies as a potential way to advance payment services, Gunther said: "By using bitcoin technology, banks might be able to update customer accounts within seconds. The question now is whether this would indeed be possible, and if so, at what risks. Apart from the functionality, our focus will always be on security as well.””
“ABN Amro's experiments with bitcoin have been public knowledge for a couple of months, having been revealed in the Dutch technology news source AutomatiseringGids.”
“Rabobank official Wiebe Draijer also acknowledged his bank's interest in blockchain technology on the RTL show. Additionally, at SWIFT's InnoTRIBE conference, a Rabobank official stated that the institution is also experimenting with the Ripple payments network.”
Key Quotes
“That ING, ABN Amro and Rabobank are all testing the technology was aired last Monday in a segment on the Netherland's popular RTL evening news. ING's global head of transaction services Mark Buitenhek (pictured) told RTL that his bank has been improving on technology that was built in the '70s and '80s, explaining: “We have improved the speed of transactions since then, up to where we are today," he said. "As such, we are always looking out for the latest technological breakthroughs to improve this even further. This is why ING is testing blockchain technology.””
“ING spokesman Robert Gunther added the company is always trying to innovate and improve the speed and utility of money transfers for customers. Framing the blockchain technology underlying bitcoin and other cryptocurrencies as a potential way to advance payment services, Gunther said: "By using bitcoin technology, banks might be able to update customer accounts within seconds. The question now is whether this would indeed be possible, and if so, at what risks. Apart from the functionality, our focus will always be on security as well.””
“ABN Amro's experiments with bitcoin have been public knowledge for a couple of months, having been revealed in the Dutch technology news source AutomatiseringGids.”
“Rabobank official Wiebe Draijer also acknowledged his bank's interest in blockchain technology on the RTL show. Additionally, at SWIFT's InnoTRIBE conference, a Rabobank official stated that the institution is also experimenting with the Ripple payments network.”