I wonder what the long lasting impact of the cryptocurrency craze will be. Will there be any white paper, technology or insight that gets repurposed for something useful?
@ekuber Banks using a blockchain (eg: a network where each bank get exactly one node) could be super interesting for a distributed append-only log with consensus.
@whynothugo why would a single entity (a bank network) want to operate a network predicated on adversarial nodes? Unless you're talking not of bank branches but the entire inter bankikg system. The thing that confuses me is that if you look at the European system, they already have quick effective transfer across banks. It wasn't a tech problem, but a social one that legislation managed to push on.

@ekuber Banks: plural. I meant across banks, not within a single bank; that wouldn't be very useful.

I'm sure there are other solutions; each with their up and downsides. A blockchain keeps a nice distributed ledger, and can scale outside of a single jurisdiction. Note that you don't need proof of work for this particular use case; use can have blockchains without it.