An Entrepreneur from monetary services giant ,Barclays has expressed the concept that blockchains ought to be designed with restrictive compliance in mind, tech news web site the next web (TNW) reported Dec. 14.

Speaking at a hard Fork decentralized event, Barclays’ Julian Wilson expressed that when building blockchains, developers must “reconfigure our approach and approach of thinking.” Wilson argued that not all business models need blockchains which the tech shouldn't be used, as TNW paraphrased his words, “as bolt-ons or additions to current business models.”

TNW additionally reports that Wilson presented an integrated idea of regulation and development, argument that “to create a blockchain wrongfully compliant, it ought to be designed with the law in mind, and not the other way around.”

Speaking regarding using blockchain at Barclays, he noted that for a bank with over three hundred years of activity, ever-changing its business model to a blockchain-based one wouldn't be easy, and that a blockchain resolution would want to be “bespoke.”

As Top Market Group reported in August, Barclays sponsored a blockchain hackathon to explore the technology’s potential within the process of derivatives contracts.

While this summer Barclays denied plans to open a cryptocurrency trading platform, the banking large demonstrated interest in crypto and blockchain tech recently, filing 2 digital currency and blockchain patents with the U. S. patent office in July.

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