[2017-10-05] Will the new banking cryptocurrency replace Bitcoin?

[DowBit]

Six global banks have worked together to introduce a new form of virtual currency called “utility settlement coin” (USC). The team includes Barclays, Credit Suisse, Canadian Imperial Bank of Commerce, HSBC, Japanese Mitsubishi UFJ (MUFJ) and State Street.

A new cryptocurrency is coming and can kill Bitcoin?

https://dowbit.com/will-the-new-banking-cryptocurrency-replace-bitcoin/

[richardsNY]

No. It doesn't really matter who or what launches its own crypto currency, nothing will ever come close to Bitcoin. People go with Bitcoin because they know that Bitcoin has the most secure and decentralized network, and it's the first every crypto currency -- these are 2 very important aspects that people go for, and never will discard. Bitcoin is the digital version of Gold, and there is nothing that can change that. With certain implementations that run on top of Bitcoin (the lightning network is a great example), even the currency aspect will get its shine.

[Karartma1]

What do you think R3 Corda and all the other Distributed Ledger Technologies are for?
The plan has always been to replace fiat money that only the big boys can cantrol.
No banknotes, no plastic cards, no cheques: everything stored in these DLTs that hackers will love to break one day.
That is not the future I want.

[okae]

Will the new banking cryptocurrency replace Bitcoin?

No, also if they finally want to made something similar to the blockchain they will fail, because the power of the blockchain is the hashrate behind it, how could they replicate and secure it?. i'm pretty sure that his final idea will have nothing to do with the current blockchain...

They forgot that people want the freedom that bitcoin is giving to us and that's exactly what they don't want...

[Falgorn]

The virtual coin created by six big banks should be considered an ordinary altcoin, which will go inside the banking system to facilitate settlements for the komiunal payments. Consequently, there is no competition to bitcoin, this digital coin is not.