{
“Deutsche Bank Dives Into Crypto: Ethereum Platform Tested To Fight Shrinking Profits”: Deutsche Bank has tested an ethereum-based platform in a bid to revive profits, according to reports. The bank is said to have been exploring the use of blockchain technology and cryptocurrencies since 2015,
with recent experiments focusing on ether, the native cryptocurrency of the Ethereum network.
Ethereum’s decentralized nature is particularly attractive for Deutsche Bank as it offers increased security through its consensus-based mechanism – a feature that was sorely lacking in traditional financial systems.
While profits have been declining across the board, the use of such blockchain platforms could provide Deutsche with a much-needed edge in the increasingly competitive fintech sector.
}