Banks and Blockchain

Blockchain technology could be a sustainable revolution in various sectors of everyday life, as the decentralized network virtually eliminates the traditional "intermediaries" in commerce, administration and the financial sector. The fact that the big local banks are particularly interested in this is shown by the following current developments. Raiffeisen Bank International (RBI) is building its own blockchain system - true to the motto. Before the revolution eats you, you better go to its head. A concept that was lived centuries ago by various monarchs and is today, for example, in the automotive sector (keyword e-mobility). In addition, there are many advantages - as Blockchain has the potential to make the entire financial sector more efficient and, above all, more secure. In this context, the RBI gave on 22.11. also known joining the global "R3" network: "By joining R3, we will be able to share and collaborate with like-minded people, which will significantly increase the speed, security and usability of our own blockchain innovations. The use of technology platforms such as 'Corda' enables us to build up comprehensive infrastructure know-how that will underpin future commercial blockchain applications, "explains Michael Höllerer, Chief Representative of RBI, which is responsible, among other things, for the digitization strategy of the RBI Group, who, among other things, is responsible for the digitization strategy of the RBI Group, the Bank's motivation to join this leading blockchain consortium. "

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