During the last couple of months, banks and financial institutions have continuously showed their interest in bitcoin, for various purposes, such as digitally signing contracts, helping with monetary transfers and more.
Perhaps one of today’s biggest monetary challenges is the presence of hackers. While they cannot crash the entire world economy by ‘deleting’ money, they can cause a great deal of damage to banks and financial institutions by changing what computers think is real and true. This represents the main reason why banks are seeking a system that would guarantee the authenticity of data, by thoroughly analysing it, and keeping records on a ledger. Blockchain technology, which is quickly picking pace, can do exactly this.