Ironically Dash Might be a Blockchain Solution for Banks
This post in cryptocurrency news got me thinking
In the new report from Greenwich Associates, Securing the Blockchain, they found from the 134 market participants questioned, 56 percent said that transaction confidentiality was a significant security concern with blockchain technology. When it came to banks and brokers that number was slightly higher with 63 percent concerned.
The dash or monero code may be useful to banks seeking confidential blockchain transactions.
I always thought the ability to hide transactions would make dash the biggest enemy of the banks. This survey suggest that they value the confidential characteristics of digital cash. Taking a step back the regulators might be ok monitoring dash in and out of an account without being able to track it's complete path. - just like cash.
One of Dash's greatest's strengths is its speed. Dash would make a phenomenal settlement currency, especially for merchants who want to lock in a price within seconds. Stated another way with an example, you don't want to be selling gold in a currency that may rise 5% in ten minutes after selling a bar of gold. Rather, a merchant wants that currency as quickly as possible so that he can do what he needs with it - which may mean keep it in the currency or sell to another.
This is just one use case of Dash and given its speed, it's a great one.
I think they would probably spin off there own closed versions though.
Yeah I imagine they use the code rather than dash but that could have the impact of legitimizing dash further.
I believe both Dash and Monero have a potentially bright future, especially based on their confidentiality. That is the primary issue that initially got my attention. Perhaps financial institutions see it the same way. Time will tell.