Banks Need to Be Centralized – Could Blockchain be the answer?

 

banks

Banks Need Centralization

 

The queues in banks have lessened, the digital transformation is progressing, few people are for banks getting redundant, and few believe banks to rise and serve as the operating system. However, I vote –  Banks to be centralized! And to some degree, Blockchain could help banks to achieve that.

Why Banks Need to Be Centralized?

Unlike olden days when data/information was maintained in the ledgers and files, now data could be cryptic and stored on cloud servers. So, if the account information that was fed in ABC city, why that can’t be accessed from XYZ city?

Thanks to globalization that customer is not at “one place” now. Continue reading