Citibank develops a platform for digital currencies and its own cryptocurrency
Citibank is developing a platform for digital currencies. In addition, the bank created its own cryptocurrency - Citicoin. It is based on Bitcoin cryptocurrency and Blockchain distributed registry technology .
Ken Moore, head of Citigroup Innovation Lab, said that the platform for digital currencies is still in the testing phase, but it has great prospects. Created by Citigroup technology is not yet patented. Most of it is implemented using open source development. However, Citigroup claims to be a pioneer in this direction.
Moore believes that cryptocurrency is a great way to transfer money from one country to another. And the creation of a mining network will allow users to provide their computing resources to maintain the service, writes the International Business Times.
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An official statement from Citibank in May this year stated that the use of digital currencies will soon become ubiquitous and familiar. This is due to their obvious advantages.
Compared to conventional currencies, digital currency is cheaper and more efficient. She will be able to provide greater transparency of transfers.
Citibank representatives believe that governments should lead the transition from paper money and credit cards to digital money.
Citibank is one of the largest banks in the world and the third largest bank in the United States. Its branch is also in Russia. In 2013, Citibank was recognized as the best in the world according to The Banker.
In January 2014, the Central Bank of the Russian Federation proposed to consider cryptocurrency and operations with it as “as suspicious transactions involving the legalization of proceeds from crime and the financing of terrorism”. However, later a number of officials suggested not to prohibit cryptocurrency, but to regulate the system.
Ken Moore, head of Citigroup Innovation Lab, said that the platform for digital currencies is still in the testing phase, but it has great prospects. Created by Citigroup technology is not yet patented. Most of it is implemented using open source development. However, Citigroup claims to be a pioneer in this direction.
Moore believes that cryptocurrency is a great way to transfer money from one country to another. And the creation of a mining network will allow users to provide their computing resources to maintain the service, writes the International Business Times.
')
An official statement from Citibank in May this year stated that the use of digital currencies will soon become ubiquitous and familiar. This is due to their obvious advantages.
Compared to conventional currencies, digital currency is cheaper and more efficient. She will be able to provide greater transparency of transfers.
Citibank representatives believe that governments should lead the transition from paper money and credit cards to digital money.
Citibank is one of the largest banks in the world and the third largest bank in the United States. Its branch is also in Russia. In 2013, Citibank was recognized as the best in the world according to The Banker.
In January 2014, the Central Bank of the Russian Federation proposed to consider cryptocurrency and operations with it as “as suspicious transactions involving the legalization of proceeds from crime and the financing of terrorism”. However, later a number of officials suggested not to prohibit cryptocurrency, but to regulate the system.
Source: https://habr.com/ru/post/292388/
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