[2015-12-04] NDTV: Goldman Sachs Seeks Patent on SETLcoin Virtual Currency

[polynesia]

Goldman Sachs Seeks Patent on SETLcoin Virtual Currency

http://gadgets.ndtv.com/internet/news/goldman-sachs-seeks-patent-on-setlcoin-virtual-currency-773590

Goldman Sachs is developing a virtual currency system that aims to revolutionise securities transactions, according to a US patent application filed by the Wall Street investment bank.

The technology, named SETLcoin, would transform the securities "clearing" system, where an intermediary reconciles and alters terms between buyers and sellers of stocks, bonds, and other financial investments before money changes hands.