this post was submitted on 13 Nov 2024
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[–] Peruvian_Skies 3 points 1 month ago* (last edited 1 month ago) (3 children)

I have a friend who works at a major bank and they use Blockchain technology to keep track of something or other internally, though I don't remember exactly what. In this case at keast we can bet that it has found a problem worth using it to solve. Banks are nothing if not efficient.

I find it funny that it was touted as an alternative to the current banking system and ended up being absorbed into it though

[–] [email protected] 7 points 1 month ago

I envy your trust in the efficiency of banks

[–] [email protected] 5 points 1 month ago

If it's used internally, then I question whether it made sense to use blockchain. At the end of the day, it's probably the trust in the bank that matters and not blockchain.

[–] [email protected] 4 points 1 month ago (1 children)

Banks are nothing if not efficient.

Banks are businesses made up of people. If a manager thought he could get a promotion by supporting a blockchain project at the height of blockchain mania, that's what he would do. Whether if fails or not is of no consequence, the manager is already on another project.

[–] [email protected] 2 points 1 month ago

My experience working in banking is that they're extremely conservative. They don't take big risks on new technologies or processes and don't modernize their technology too quickly to be certain that everything works as expected and doesn't surprise anyone