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Bitcoin owned by banks

bitcoin owned by banks

incomplete to be replied properly. You could even store your data. So yes, every bank and everybody else can use blockchain technology. 3.9k, online, a community dedicated to Bitcoin, the currency of the Internet. I wanted to use quite more advanced database like hana which do fit pretty well to blockchain technology. Banks could call their internal system to whatever they want, even to Proof-of-bank which means techincally nothing, definition could be simply a check by a person working for a bank. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. How should a bank use bitcoin: If I would be your consultant, I would strongly suggest to use original sources of bitcoin as banks can't provide such amount of development progress of open source projects.

bitcoin owned by banks

Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part.
Through many of its unique properties, Bitcoin allows exciting uses that.
With Bitcoin, you can be your own bank.

It would contradict some basic blockchain philosophy as if any company does store any data in blockchain, there must be some deletion/cleanup policy, as example for bills which would be required by law to be deleted from the DB after some period of time. For internal usage, I think it is most documented available solution which I would suggest you to read about is hyperledger. In case of blockchain it is a major philosophy problem where I would assume that for file storage and other tasks, there are many good solutions which mostly fit much better to companies requirements. I would rather suggest to change the question into: "Why and how should a bank use blockchain technology". If that helps you: 2 years ago I did have that approach to implement blockchain technology in some commercial ERP system, it was SAP. Look at Fidor Bank as example (first it was a Blog, turned to a bank). Why should banks use bitcoin? Some speak about different implementation and replacement for proof of work.

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