UBS, BNY Mellon, Deutsche Bank, Santander, the market operator ICAP, and the startup Clearmatics formed an alliance in 2016 to explore the use of digital currency between financial institutions and central banks, using blockchain. The ultimate goal of the project is to create a digital currency known as Utility Settlement Coin (USC), which will facilitate payment and settlement for institutional financial markets.I decided that I had to know more about Utility Settlement Coin, and so I decided to go to the source.
USC is an asset-backed digital cash instrument implemented on distributed ledger technology for use within global institutional financial markets. USC is a series of cash assets, with a version for each of the major currencies (USD, EUR, GBP, CHF, etc.) and USC is convertible at parity with a bank deposit in the corresponding currency. USC is fully backed by cash assets held at a central bank. Spending a USC will be spending its paired real-world currency. UBS and Clearmatics launched the concept in September 2015 to validate the potential benefits of USC for capital efficiency, settlement and systemic risk reduction in global financial markets. The project was initially incubated as part of the UBS Crypto 2.0 Pathfinder Program, UBS's initiative for research and experimentation on blockchain.This could ultimately turn out to be a complete and total game-changer.
*UBS *BNY Mellon *Deutsche Bank *Santander,...are four of the biggest banks in the western world, and the fact that they are working on this project together is a sign that they are very serious about succeeding.
"Digital cash is a core component of a future financial market fabric based on blockchain technologies," said Hyder Jaffrey, Head of Strategic Investment & FinTech Innovation at UBS Investment Bank. "There are several digital cash models being explored across the Street. The Utility Settlement Coin is focused on facilitating a new model for digital central bank cash."Digital central bank cash?
14 Aug 2017 Bitcoin price climbs over $4,000. Since the beginning of the year the bitcoin price quadrupled. For the first time it reached a value over $4,000. read more. 12 Jun 2017 Bitcoin reaches new all-time high: $3,000. After reaching the all-time high of $ 2,000 at end of May 2017, Bitcoin now passed the next milestone. read more It estimates that Bitcoin uses 61.76 terawatt-hours (TWh) of electricty per year, more than many countries and around 0.28 percent of worldwide electricity consumption. The value of Bitcoin (here I mean the Bitcoin-USD exchange rate) fluctuates greatly. Just within the past six months, the exchange rate changed from under $200 per Bitcoin to over $1,000 and currently it is at $512. You can view the chart here. This chart shows the biggest crypto currencies with the biggest market caps (as of October 9, 2020). Showing posts with label bitcoin chart. Show all posts. bitcoin chart bitcoin golden cross bitcoin price bitcoin rally hottrend "Golden Cross" Now Showing On Bitcoin Charts! Last Seen Before Rally From $4800 to $9300... February 18, 2020. Many technical analysts see the "goldren cross" as the ultimate bullish signal. It occurs when you add lines that indicate the 200 day moving average, and ...
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