Banks are Optimistic about Blockchain! Barclays are Developing New Operating System...

Barclays Vice President for Corporate Banking Jeremy Wilson made a bold statement at the Blockchain for Finance conference in Dublin. He said:

"We are in the process of developing a new operating system for the planet"

Speaking with a group of C-Suite executives, Wilson was impressed by the huge prospect of blockchain technology and applications for distributed registers. At the same time, he criticized the work of the branch on ethical and moral aspects.

Wilson was not the one, who spokes about the potential of technology and applications.

In addition to these issues, the conference discussed the problems of financial trade, identification and cross-border payments, as well as the determination of their solutions through the use of the technology blocking capacity. The complexity of system and technological limitations, as well as the problem of regulation, were discussed.

The conference was also attended by Peteris Zilgalvis from the European Commission, who expressed his desire to identify and get ahead of the problems.

He suggested strengthening control over the development of the agreed infrastructure, especially for smart contracts:

"Smart contracts need to be regulated if we want to make them legally binding."