[2016-08-24] BS: Bitcoin for banks

[polynesia]

Bitcoin for banks

http://www.business-standard.com/article/opinion/bitcoin-for-banks-116082401593_1.html

UBS is unlikely to declare itself the real Satoshi Nakamoto anytime soon, but its own bitcoin-like digital currency could give it a head start on other distributed database aficionados in investment banking. The Swiss bank on August 24 said four financial firms, BNY Mellon, Deutsche Bank, ICAP and Santander, had joined its attempt to develop a so-called "Utility Settlement Coin" (USC). In contrast to the libertarian cryptocurrency, its adoption depends resolutely on the approval of a central authority.