Report: Deutsche Bank to Explore Blockchain Technology

Deutsche Bank may be the next financial institution to look into how Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology can streamline the way transactions are processed.

Financial News, citing a person familiar with the matter, said that the bank was close to formally announcing its plans.

If confirmed, the bank would become the world's largest by assets to disclose such plans. According to 2014 data by Relbanks, Deutsche Bank was the world's 12th largest institution, with the equivalent of $2.07 trillion under its care.

They would join UBS, Bank of NY Mellon and USAA, that announced their intentions to explore blockchain technology earlier this year. India-based banking software provider Infosys is also considering the technology to boost its Finacle software, and NASDAQ said that it was piloting the technology for quicker settlement of security transfers.

Several banks have already implemented the Ripple protocol, which functions differently from Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term's blockchain, for currency transfers.

Such technologies have the potential to significantly bring down the cost and time needed for back office operations. With some exceptions, the technology used today has been deemed as more or less equivalent to that used 30 years ago.