Have the banks saved themselves with this idea against Bitcoin and Co.?
The European Central Bank (ECB) is developing a system for real-time payments throughout the euro area. The new settlement system TIPS (Traget Instant Payment Settlement) is scheduled to start in November 2018, as the Central Bank announced in a statement.
Individuals and companies should be able to transfer funds via their bank within seconds to their respective recipients. As a result, monetary conserva- tives also want to push ahead with euro area integration and avoid fragmentation in different national offerings.
The payment system was to be developed in close cooperation with the banking industry and to enable money transfers around the clock on all days of the year. At least in the first two years the processing money houses per payment would be a maximum of 0.2 cents.
The ECB's impetus is on the one hand a reaction to the increasing popularity of digital cryptos such as bitcoin, ethereum or ripple
Another important reason for the development of TIPS is the general trend towards the digitalization of the financial sector, driven by the so-called "Fintech" companies, which increasingly attract customers from banks.
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Steemornot
Great post. The banks Hate the idea that the people can govern their own financial transactions and will likely try to stop all cryptocurrency's. However due to crypto's being hard to trace or untraceable they really don't have a way to stop them. Id guess they will eventually jump on board and create their own currencies.
Interesting post!
Theres a mini war between the banks and fintechs so i'm not surprised to hear this.
Keep it up!
Interesting :)
its intresting upvoted!
steemit is teaching me business management