Why is it that banks always seem to be late to the technology party?
And why is it that banks should be thinking about ways to bring the emerging technology of the blockchain to the mainstream?
Turns out, the answer to both questions might be the same: Banks prioritize safety, security, and trust.
Of course, it’s no surprise that banks haven’t jumped on the bitcoin bandwagon. It’s easy to dismiss a crypto-currency dreamt up by a pseudonymous inventor from a faraway land. But what about the blockchain—the underlying technology that makes bitcoin possible? This virtual ledger has the potential to change everything the world has ever known about moving money.
Renasant Bank’s John Oxford sat down with us to talk about what banks need to know about the blockchain—and why banks might have the advantage when it comes to widespread adoption.