Banco Santander incorporates Blockchain technology

Santander Bank does not want to stay out of technological innovations and is increasingly engaged in the development of financial products based on Blockchain technology.

Banco Santander incorporates Blockchain technology

The blockchain potential

One of the largest banks in the world, Banco Santander, announced that it is developing financial products based on Blockchain technology. The journalist Eduardo Lopez Alonso wrote an article on January 20 in El Periodico (Catalonia), in which he reports that Santander Bank began in 2019 with the pilot tests and despite the fact that there is a strong confidentiality regarding the development of the instruments financial, ensures that Banco Santander recognizes that Blockchain technology has great potential for the next three years.

Maria Concepcion de Monteverde, responsible for the Blockchain area of ​​Banco Santander, attended the European Blockchain Convention (held in Barcelona) and said: "Banco Santander conducted a real pilot test with the issuance of a 20 million euro bond at the end of the year It was a real pilot test, with a real transaction with the bank as seller and buyer. The natural step for the future will be to offer a similar product aimed at the financial market."

On the other hand, Santander Bank launched a call to grant the Santander Scholarships of the "MIT Leading Digital Transformation" program. The scholarships will offer a full five-week program on leadership and new technologies, including Blockchain technology. The call will be open until March 15, 2020 and will have a limit of 2,500 scholarships.