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Even before the advent of cryptocurrencies and blockchain, banks have been widely criticized for failing to innovate quickly enough, whether due to legacy back-end technology or policies such as overdraft fees that infuriated customers.
Now, the banking industry wants to get in on the action, especially with a friendlier regulatory backdrop under the Trump administration, which wants to make the U.S. the crypto capital of the world.
Recently, a group of banks and state banking associations launched the BankChain Alliance, which aims to build and operate its own blockchain network.
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