Spain's banking giant Santander runs challenge to devise Bitcoin strategy for banks

The open innovation platform Yegii is running a challenge to "analyze the impact of Bitcoin on banks and devise a strategic course of action" on behalf of Banco Santander.

The banking group is the Eurozone's largest by market value and one of the largest in the world. It is based in Spain with over 180,000 employees worldwide.

In the challenge, it is looking to add to that total:

"The dream team would be multidisciplinary: a bitcoin expert, a management expert, a project manager, a data scientist/scientist/engineer, a banker, an academic, and a student with lots of energy, ideally from different continents, and to include both believers and skeptics."

The final stage of the challenge expires on September 20.

Numerous large banking institutions, such as Goldman Sachs, have commissioned various studies on virtual currency during the past 12 months.