Friday, December 2, 2022
HomeCryptoThe US Federal Reserve (Fed) has interviewed a group of domestic and...

The US Federal Reserve (Fed) has interviewed a group of domestic and international banks who have confirmed their interest in including bitcoin-related products in the short to medium term

FED: 4 out of 10 banks want to get involved in Bitcoin. The SFOS survey, which translates to “Senior Financial Officer Survey“, aims to collect information on the interests of banks inside and outside the United States.

Of the 80 banks surveyed, 46 are US banks and 34 are international banks, although the Fed report does not list the names of the banks in question.

The third and final part of the survey focuses on digital innovation. In the United States, 40% of participating banks indicated that they place a medium to high priority on growing the development of blockchain-related products, such as distributed ledger technology (DLT) or cryptographic digital assets. This approach is based on a period of two to five years.

In the short term, over the next two years, the results reduce people interested in Blockchain technology to just 27%.

At the same time, around 17% of the banks surveyed did not quantify their level of interest in such products. However, most of them indicated that they were following the evolution of the use of this technology and that they were ready to adapt to the changes occurring in the banking sector.

The moral and philosophical principles of bitcoin are radically opposed to those of banks, which does not prevent these financial institutions from trying to make the most of the technology resulting from the creation of Satoshi Nakamoto.

From the Ripple network, a private blockchain intended to be used by banks and financial institutions around the world, to debit cards allowing the use of BTC, such as the one promoted by the Panamanian bank Towerbank; all are examples of how banks are trying to surf” the crypto wave ” without leaving the centralized sea they control.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Tags