Published on
May 17, 2023
Written by
Read time
1 min

How the Banking industry can take advantage of blockchain?

The banking industry can increase efficiency and gain value by using G2C:

  1. Data integrity with on chain records
  2. New services based on programable money (escrow accounts, conditional payments, etc)
  3. Tokenization of assets for efficiency in trading (Securities, Fiat-backed tokens, etc)
  4. Security, speed and reliability to move value online globally.

A new generation of banking services powered by on chain data

Having one single source of truth in a distributed database helps banks to keep records efficiently, while using the protocol to move data and value globally at a fraction of today's costs.

The nature of the protocol allows us to reduce fraud, increase money velocity and generate new business opportunities.

Here are some examples of how banks can use the G2C Suite:

  • Instant direct payments at a fraction of a USD penny
  • Conditional payments to generate escrow accounts and special transactions, fast and easy
  • Payment channels for efficient trading with customers
  • Metanet objects as a filesystem to keep records on chain guaranteeing data integrity
  • Regulated NFTs to create legal, enforceable and binding digital contracts
  • Regulated NFTs to issue and trade digital securities on chain
“Bitcoin does not compete with banks”
Dr. Craig S Wright

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