The blockchain can be used to safeguard your money as a bank: each transaction is registered as a block, and at any time there is something remiss, the system is notified automatically, without the need for third-party security.
For example, Santander Bank has estimated that this system could save financial institutions up to $ 16 billion in administrative expenses.
It will help banks to be more efficient and faster in their transactions, and more digital portfolios will be used for payments and transfers.
Imagine that you arrive at a coffee shop to pay for your express double. If you use your card, the bank sends money to the cafeteria bank, as well as to two or three other financial institutions. Three days later the money arrives. It is expensive. With the Blockchain it is like cash, like giving money to the cashier from a digital wallet, because the payment is immediate.
The benefits of speed and efficiency are evident as you move towards an increasingly cash-free society. For banks it can be a forced and somewhat painful change, because ultimately, the less transactions they process, the less money they will make, but for the user it is a very effective advantage.
@joelgonz1982 What exactly are you blathering on about? Are you saying that it will be beneficial for banks to use the blockchain to help customers send their government's fiat money faster? Fiat money is debt + interest that is funneled through intermediaries called banks which commit fraud, charge you fees just to be in their presence, you need to ask permission to access your own money, and some are considered "too big to fail!" In case you didn't get the memo: