Royal Bank of Scotland Trialing In-House Cryptocurrency
Royal Bank of Scotland (RBS) is experimenting with its own in-house cryptocurrency, says the bank's technology chief. RBS is a subsidiary of the Royal Bank of Scotland Group, which also includes NatWest and large Irish commercial bank Ulster Bank. Neil Bellamy, head of technology, media and telecoms, told The Memo that RBS had created, traded and settled its currency between the group's banks. Commenting on the potential of blockchain technology, Bellamy added: "It's a pipe dream, but imagine if you could take a distributed ledger system and put it in a back office and do away with a lot....
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