Bundesbank Ridicules Blockchain

The president of Bundesbank – Germany’s central bank – is not impressed by blockchain, despite the technology experiencing increased adoption in other sectors.

According to statements made in Frankfurt on May 29, Bundesbank President Jens Weidmann claimed that a trial project to integrate blockchain failed miserably.

As opposed to improving the bank’s operations, blockchain was slower and more costly, leading the president to conclude the technology failed to bring a “breakthrough” to the banking industry.

Reference: https://www.ccn.com/bundesbank-ridicules-blockchain-technology

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Author: Neo Anderson

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