Employees at the second-largest Indian bank falsified documents in a scheme that ultimately cost the institution at least $2 billion. Some argue a distributed ledger would have helped prevent or minimize the fraud.
The bank’s distributed ledger for private equity deals can now provide nodes to auditors, so they can easily access documents and data for their annual reviews.
Process would protect taxpayers from bailing out failed banks; bank plans to raze its midtown Manhattan headquarters and build a 2.5 million sq. ft. edifice on the site.
As they cement major partnerships, launch overseas operations and court banks and other institutional investors, top cryptocurrency exchanges now see regulatory approval as a competitive advantage.
Banks scrapped a plan to create a shared data bunker for customer data in favor of a backup buddy system. Some argue a move to blockchain should be next.
In what could be seen as a mea culpa for CEO Jamie Dimon's disparagement of bitcoin five months ago, the Wall Street megabank has released a big and relatively bullish report on cryptocurrencies.
