Citi Develops 3 Blockchains with Own 'Citicoin' Token

Citi Develops 3 Blockchains with Own 'Citicoin' Token

Banking giant Citigroup, has developed 3 blockchains and a test cryptocurrency dubbed 'Citicoin' to run across them. The bank wants to make sure it is "at the leading edge of [distributed ledger technology]" so it can "exploit the opportunities within it." According to Ken Moore, head of Citi Innovation Labs, Citi has been looking at blockchain technology for "the last few years" and has developed "an equivalent to bitcoin" within its labs while mining what it calls "Citicoin." "We have up and running three separate systems within Citi now that actually deploy blockchain distributed ledger....


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