Utility Settlement Coin Creator to Open-Source Modular Blockchain Software
The secretive firm behind the Utility Settlement Coin project has told CoinDesk of plans to roll-out new open-source offerings.
Utility Settlement Coin
Around a dozen banks are said to be spending $50 million to build a blockchain-based digital cash settlement system, according to Reuters.
Blockchain tech provider R3 tried to take over one of the most well-known bank blockchain projects this June. The only problem? It didn't work.
Fnality, a high-profile digital fiat project backed by 14 big-name financial institutions, is teaming with the ConsenSys-backed Adhara.
Both new and founding members of the Utility Settlement Coin project think its work could lead central banks to adopt blockchain-based fiat currency.
Utility Settlement Coin is moving into its third phase – building a kind of blockchain-based fiat testnet – with six new partners.
