Published on September 16th, 2015 | by bitcoin0
Blockchain-based “Settlement Coin” is being developed by UBS
Swiss banking giant UBS is developing a new blockchain-based currency “settlement coin” – a digital currency that’s backed by fiat money and fits into the existing regulatory framework.
UBS also demonstrated the possibility to digitize assets using a distributed registry blockchain.
“We are not ruling it out,” Alex Batlin, Director of Technology and Innovation at UBS, told IBTimes.
UBS and several major banks are interested in using virtual securities through Ethereum but see a problem with its lack of scheduling.
“Clearmatics have a scheduling capability.”
Many also believe that UBS plans to create its own blockchain.