❕NEWS - Now about 100 Italian banks are connected to the country blockchain system | BeerMoneyForum.com

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Balint098

Guest

Oct 31, 2020

As reported by Coindesk, to improve the reliability and transparency of data transfer 100 Italian banks are now using Spunta, the country-sponsored blockchain ecosystem that's designed specifically for the country's banking system. Back in May, 55 banks were already joined and integrating blockchain in their system. This will tremendously speed up data transfer between banks.

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Brain

Sapphire Member

Nov 3, 2020

Since this is to the advantage of the bank which will help speed up data transfer between banks then I think more Banks will be glad to join it. It isn't a bad idea after all

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Niftyicon

Sapphire Member

Nov 3, 2020

This is really a very good way to use the block chain technology. When it comes to data transfer, nothing beats accuracy and speed, so it is a good development for the banks and financial institutions.

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Wisdom01

Diamond Member

Nov 3, 2020

I know that there might still be some fee attachend when doing the transaction since they are using block chain, well this is really good and helpful

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Brain

Sapphire Member

Dec 8, 2020

I believe that the banks might look more at the advantage they will stand to gain than any other disadvantage which might include payment of charges associated with it