Many banks are developing their own blockchain technology for their purposes. I personally think their stupid because people more and more are turning towards existing blockchains like Bitcoin/Altcoin.
Goldman Sachs is silently saying: "If you can't beat em, join them"! But their saying it with the silent footnote that investing always carrys a risk with it so it's better to drop your money at their bank which still uses the oldfashioned technology.
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Good point, the trouble is that their business model is based on hot air, fractional reserve banking means you can lend out money you don't actually have. So they'll always have the benefit because your government is backing their ass.
When you know most governments are just corporations pretending to be above you the whole game changes. Therefore also the SEC is just a corporation pretending to be a goverment body.
The future is ownerless blockchains and what have you. We should never let government interfere with our business because it is none of their business!
@baus85
Excatly
Change is the only constant thing in life and adapting to things we can't change is human. My only fear is how this guys will regulate the crypto market and not end up aborting the purpose of cryptocurrency and blockchain. I know they will surely play a long but i pray they don't do that harshly
very true. I think the banks are stupid for creating their own crypto, because why would it really have any value(the value of crypto is that it isn't centrally controlled/owned).