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Banks Adopting Blockchain 'Dramatically Faster' Than Expected (reuters.com)
Banks and other financial institutions are adopting blockchain technology "dramatically faster" than initially expected, with 15 percent of top global banks intending to roll out full-scale, commercial blockchain products in 2017, IBM said on Wednesday. Reuters reports: The technology company said 65 percent of banks expected to have blockchain projects in production in three years' time, with larger banks -- those with more than 100,000 employees -- leading the charge. IBM, whose findings were based on a survey of 200 banks, said the areas most commonly identified by lenders as ripe for blockchain-based innovation were clearing and settlement, wholesale payments, equity and debt issuance and reference data. Blockchain, which originates from digital currency bitcoin, works as an electronic transaction-processing and record-keeping system that allows all parties to track information through a secure network, with no need for third-party verification.
Sorry, but what the fuck is a Blockchain? Lately many Slashdot submissions promoted to stories don't give background. Yes, I can google it, but I want to skim the news here quickly without to keep flipping to Google to see what the story is about. Yes, maybe I should know about all the tech posted on Slasdot stories, but Slashdot is a news site, and the reason I read it is to learn about new technologies. So how about choosing submissions which are self-explanatory?
To save others:
"Blockchain, Bitcoin's pioneering technology for recording all transactions in the financial network, ..." https://simple.wikipedia.org/wiki/Bitcoin#The_Blockchain
See editors, not so hard was it? and more informative that that OP's shitty copypaste .