Nine of the World’s Biggest Banks Form Blockchain Partnership
Here's the press release (pdf): <a href="http://static1.squarespace.com/static/55f73743e4b051cfcc0b02cf/t/55f8119ce4b0550fcc16d156/1442320796627/PRESS+RELEASE+Global+banks+form+partnership+with+R3+-+FINAL.pdf" rel="nofollow">http://static1.squarespace.com/static/55f73743e4b051cfcc0b02...</a><p>This sounds exciting. My gut reaction was that the banks aren't going to use it for actually transferring money, but as a way to notarize transactions that will be acknowledged by the whole group. It does sound like a cool way to verify everything going on among a network of players.<p>And there's a lot of weird hate towards bank on HN. I know they're not great, but it's really not helping the conversation to just say things like "woooo banks are scary!"<p>//edit: A key quote from the press release:<p>> <i>The group will collaborate on research, experimentation, design, and engineering to help advance state-of-the-art
enterprise-scale shared ledger solutions to meet banking requirements for security, reliability, performance,
scalability, and audit.</i><p>It's a shared ledger system!  So, really no need to have it be bitcoin. It does make sense.  It'll be great to see the confused looks on lawyer's faces when they try to lobby to change the blockchain history.