A Nationwide, Industry-Owned Blockchain Network for Banks Will Launch in 2027. Here's What Crypto Investors Need to Know.
Thirty-nine state banking associations are planning to build their own blockchain.
Overview
Even before the advent of cryptocurrencies and blockchain, banks have been widely criticized for failing to innovate quickly enough, whether due to legacy back-end technology or policies such as overdraft fees that infuriated customers.
Now, the banking industry wants to get in on the action, especially with a friendlier regulatory backdrop under the Trump administration, which wants to make the U.S. the crypto capital of the world.
Details
Recently, a group of banks and state banking associations launched the BankChain Alliance, which aims to build and operate its own blockchain network.
Source
Originally published at www.fool.com.
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