Is the Royal Bank of Canada validating BTC blocks? Covered: Node found running on Banks IP Could it be a Rogue Intern? Node Found Running on Banks IP According to reports from Bitcoin Magazine, the largest bank in Canada, The Royal Bank, is spinning up a Bitcoin Full Node. Meaning, the bank would be assisting […] The post BREAKING: Canada’s Largest Bank Found Running Bitcoin Full Node appeared first on CryptosRus.

BREAKING: Canada’s Largest Bank Found Running Bitcoin Full Node

Is the Royal Bank of Canada validating BTC blocks?

Covered:

  • Node found running on Banks IP
  • Could it be a Rogue Intern?

Node Found Running on Banks IP

According to reports from Bitcoin Magazine, the largest bank in Canada, The Royal Bank, is spinning up a Bitcoin Full Node. Meaning, the bank would be assisting the open monetary network to validate transactions and blocks and relaying them to other full nodes. This appears to be, if true, the first time ever a major bank is running a full node on the network, which is a significant step towards legitimizing bitcoin and the asset class as a whole.

According to a widely shared Reddit post by user shibahofer, the details of the full node, updated on 1/17/22, are publicly visible via shodan.io. Nodes are the backbone of the network, as they determine the current state of the blockchain. The fact that one of the largest banks in the world would be participating at this level is unprecedented.

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Could it be a Rogue Intern?

According to users on a Twitter thread regarding the node, it is “five versions out of date”. Many have quipped that it’s an intern “with a raspberry pi under his desk”, which is a small, hobbyist computer made for running nodes and other tasks. The IP address indicates it really is the Royal Bank of Canada, but to what extent is unclear.

Some have even speculated that the node has been shut down. As one Twitter user said: “seems like they’ve already fired the intern”, posting an image that appears to show the node has been disabled. However, the latest block that the node was involved with was only a few days ago.

credit: @callebtc

Whether or not it was “just an intern” is impossible to determine. Maybe the node was shut off as a way to stop the rumors from spiraling. Considering the fact that an employee *could* attempt this at any major company, and yet it doesn’t ever happen, lends credence to the notion that it was not just a rogue employee, but rather sanctioned by the bank.

Just like any other bank, RBC has been fickle in terms of its stance on crypto and Bitcoin. In November of 2019, it was reported that the bank was “exploring cryptocurrency trading platform for investments and online purchases.”

However, the bank has also recently stopped “allowing the use of RBC credit cards for transactions involving cryptocurrency.” So, whether this node was sanctioned or not, time will well. Nevertheless, it is intriguing to know that there is a good chance it was actually sanctioned by the bank.

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The post BREAKING: Canada’s Largest Bank Found Running Bitcoin Full Node appeared first on CryptosRus.