As banks try to stay relevant with current technologies, Bank of America is one among many to hire for blockchain positions. After weeks of Ripple testing, it has come to fruition that the bank will continue using Ripple’s solutions.
According to a job post on Linkedin the project manager will manage a team responsible for the Ripple Project which will be a decentralized ledger technology system for cross border payments marketed to global transaction services clients.
The role will offer six figures at the New York office, they will also be responsible for product strategy and growth, with the ability to educate clients and Bank of America bankers about the product.
Bank of America has over 56 million US customers, bringing Ripple to those customers would be a huge step in attaining adoption to the mainstream audience.
Banks on the other hand have been facing a new set of challenges over the past decade. The old banking model is changing fast and digital transformation initiatives have proven to be a bumpy ride for most financial institutions.
In addition, this digital transformation calls for a complete overhaul of how banks work. Meanwhile blockchain technology has started to establish itself, it can be a powerful tool wherever trading occurs. With pairing legacy banking APIs with emerging blockchain technology, banks can create digital ecosystems, adjust operating models and connect with customers in a whole new way.
Layering the distributed ledger on top on core banking systems will help create a robust and agile digital platform.
