We all hear about the future of “bitcoin” and other digital currencies. Will being “off the grid” keep them viable?
Ten of the world’s biggest banks are now part of a project to create a new digital currency for financial markets; the new coin has the power to blow rival cryptocurrencies out of the market, financial consultant Luigi Wewege told Radio Sputnik.
Six of the world’s biggest banks have joined a project to create a new digital currency that will be used to settle transactions over blockchain, the technology that serves as a digital ledger for bitcoin.
Barclays, Credit Suisse, Canadian Imperial Bank of Commerce, HSBC, MUFG and State Street have joined the “utility settlement coin” project launched by Swiss banking giant UBS, the Financial Times reported on Thursday. Read about it here.