BNY's CIO Suresh Kumar is experimenting with blockchain The bank will use bitcoin, known internally as BK coins, as incentives to staff for creating certain software services. Eventually they will use it to allow business managers to reward employees for publishing articles or making presentations. The coins can be redeemed for gift cards or other perks.

The objective is to change the mindset around the new technology and to make it tangible in a controlled environment so that BNY can better understand the potential value.