Bitcoin block-chain catches attention of Dutch banks

Thursday 4 December 2014 13:38 CET | News

The Dutch banks ABN Amro, ING and Rabobank are currently exploring the Bitcoin block-chain technology for possible implementation in the local banking system.

Mark Buitenhek, ING official, has informed that the current payment system operates through banks and central banks, which monitor all commands and ensure that operations run as planned, reports, citing RTL Nieuws.

The technology underlying Bitcoin could speed up the money transfer process and the fact that the network runs continuously may benefit financial institutions, which could also operate continuously, even during the nighttime and on weekends.

Recently, the Dutch retail chain company Spar announced that its outlet located in the city of Arnhem, has become the Netherlands first supermarket to embrace Bitcoin.

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Keywords: Bitcoin, block-chain, Dutch, banks, online transactions, design
Categories: DeFi & Crypto & Web3
Countries: World
This article is part of category

DeFi & Crypto & Web3