Bank of Sharjah CEO: Blockchain and Cryptocurrencies Are Not Only Difficult to Regulate, They're Here To Live

time:01-30 06:00 source:Internet

According to Varouj Nerguizian, Chief Executive Officer (CEO) of Sharjah Bank, a United Arab Emirates-based financial institution, blockchain and cryptocurrencies are not going away, but are likely to become an important part of the banking system. However, Nerguizian said banks can only fully benefit from the technology if they deploy non-public or enterprise blockchains. In the interview, the CEO also explained how blockchain could be a double-edged sword for financial institutions trying to adapt to the post-pandemic situation. "Blockchain is a revolutionary technology that the entire banking industry has not yet fully understood," he said. While its applications are easy to grasp in some areas, such as know-your-customer [KYC] or real estate title deed verification, blockchain purportedly allows parties to transact with each other without the need for an intermediary. This has raised concerns for authorities looking to monitor the activity.

  • Positive
  • Latest
  • {{item.nickname}} {{item.publish_time}} sofa bench floor {{item.floor}} floor
    {{item.parentinfo.nickname}} Posted on {{item.parentinfo.publish_time}} {{item.parentinfo.content}}
    {{item.content}}

    Disclaimer : The above empty space does not represent the position of this platform. If the content of the article is not logical or has irregularities, please submit feedback and we will delete or correct it, thank you!

    {{item.praise}} Like {{item.praise}} Like Reply
Come on and grab the couch~
Post a comment
Cancel Reply