The Banks are losing the War against Blockchain!

  The largest Bank in Spain announces the launch of an international payment application, which will use xCurrent technology based on the Ripple Blockchain, this first launch will be dedicated to retail customers in 4 countries.  

  The Santander group indicated to be the first Bank to launch an application based on Blockchain technology through the One Pay FX application for smartphones, which will be available to retail customers in 4 countries initially, among them; Spain, the United Kingdom, Brazil and Poland. This will be the first of the many countries that may have this technology in the coming months. Indian.  

  “As of today, customers in the United Kingdom can use One Pay to transfer money in Europe and the United States. In Spain, customers can move to the United Kingdom and the United States, while customers in Brazil and Poland can move to the United Kingdom“, The executive president of Bank Santander, Ana Botin, said in the statement.  

  In this way, Santander will be using Ripple's xCurrent, a software dedicated to the business environment which was designed by the San Francisco-based company FinTech, which seeks to promote comprehensive monitoring of payments and instant contracts worldwide. It should be noted that the application as such will not use the main cryptocurrency of this technology (Ripple) for the operation of the Blockchain.   

  As indicated previously, Bank Santander announced that an application for international payments would be used. “3 clicks and 40 seconds”, which is still to be confirmed. 

  On the other hand, transfers to Europe can be made on the same day, with the aim of offering this instant transfer service for the summer, he indicated. Botín, adding the following: 

"Our goal is to help the thousands of people who use international payment services every day, and we will add more currencies and destinations in the coming months.”  

  In this way, more and more financial institutions are joining this technology, despite the attacks organized by other large banks against it, we are seeing how little by little they are giving in to this new trend, more than a tendency, I would say this “Nueva Era del Blockchain” which will be the future that will bring us all.  

  Recalling as well as last August 2016, the Utility Settlement Coin '(USC) project promoted by the Swiss entity UBS with Santander, BNY Mellon and Deutsche Bank, in which they sought to promote the use of digital money and ensure greater security in the transactions.  

  It is expected that by the end of 2018 interbank transfers of more than 100 million dollars will be made through this new system that they seek to implement.  Read more here

  Fuente: CCN 

  While in other parts of the world banking entities continue to attack those who operate with cryptocurrencies, closing their accounts, individuals and exchange houses, as in the case of the South American country of Chile, in which two exchange offices activated a lawsuit against the banking entities responsible for closing the accounts with which they operated in the cryptocurrency exchange service. You can read more here: Intercambios de criptomonedas chilenas se unen contra los bancos, pide regulación 

  We are aware of the following events that little by little will be more positive that will continue to drive the use of Blockchain technology.