Latest move by UBS may propel blockchain into mainstream finance!

Latest move by UBS may propel blockchain into mainstream finance!

Swiss banking giant UBS is working on a project which has the potential to put the limelight on the blockchain technology. As per a news report, the project is being termed as the "utility settlement coin." For the said project, which is still in the nascent stages, the banking major also aspires to build an alliance around it. At present, the work on the coin is being undertaken at a Bitcoin lab in London, and the idea is to use this coin for transactions. What makes the fate of other cryptocurrencies, such as the Bitcoin, also bright is that the technology behind the UBS' coin will be....


Related News

Bitcoin Goes Mainstream With Inclusion on Yahoo! Finance

This article has been updated with Yahoo's comment. Access to bitcoin price data in the world of mainstream finance has taken another big step in the last 24 hours. Following Bloomberg's recent addition of bitcoin to its trading terminals in late April, and its inclusion on computational knowledge engine WolframAlpha, Yahoo! Finance has followed suit and now displays the BTC/USD price along with its many other listed fiat currencies. A Yahoo spokesperson told CoinDesk that move was driven by the site's users, many of whom had requested the addition of the feature: "We've added bitcoin to....

How The Bitcoin Investment Trust Pushes Bitcoin Into Mainstream Finance

It's getting harder by the day for traditional investors to ignore bitcoin. Today, The Wall Street Journal reports that the Bitcoin Investment Trust (BIT - which began trading on the OTCQX market May 4 under the ticker symbol GBTC) could bring bitcoin broader acceptance by investors. Some analysts think the fund could prompt speculative interest in bitcoin like the launch of gold exchange traded funds (ETFs) in precious metals a decade ago. The Securities and Exchange Commission is currently reviewing an application for what would be the first official bitcoin ETF, the Winklevoss Bitcoin....

Blockchain Without Bitcoin: Big Banking Babble

There has been a recent change in the mainstream narrative surrounding bitcoin. The message is shifting; what was once a story about get-rich-quick imaginary gold or hacker criminals is turning into a story about banks and regulations. The new story is more widespread and more positive. Bitcoin is slowly becoming part of everyday conversation, although bitcoin itself is often downplayed. Bitcoin has found new support in the mainstream media, mostly couched in praise for its underlying blockchain technology. From Nasdaq and Blythe Masters to The Economist, finance giants are realizing the....

Bank of America Latest to Conduct Blockchain Trade Finance Trial

Bank of America has revealed it is developing a blockchain-based trial centered on trade finance. The move is the latest that finds the multinational banking institution seeking to position itself as an early adopter of the technology. In late December, Bank of America revealed it had filed a rush of new patents related to the industry, a development that followed the November news it had partnered with consortium startup R3. Financial News reports that Bank of America believes blockchain could come to replace the more manual processes that dominate global trade. Jason Tiede, head of....

Bitfury Pays in Bitcoin to Join UK’s Innovate Finance

The leading Bitcoin infrastructure provider Bitfury has officially joined the London fintech group Innovate Finance this week after announcing it would enter the accelerator back in November of 2015. According to Business Insider, Bitfury paid £10,000, or 37.55 BTC, to join the organization that aims to propel the UK’s position as the fintech community’s global technology hub. In fact, Bitfury will be the first members that pay for their enrollment in bitcoin, and the company wouldn’t have it any other way. The UK group has over 150 members including IBM, Mastercard, and Visa but none of....

Quotes

Bitcoin is Cash with Wings.

Charlie Shrem