Digital Cash Settlement using Blockchain

Several of the world’s largest banks are in the process of investing around $50 million to create a digital cash system using blockchain technology to settle financial transactions. They aim to develop a system to make clearing and settlement in financial markets more efficient. The new system called Finality could launch in 2020. Blockchain, which first emerged as the software underpinning the cryptocurrency bitcoin, is a shared ledger of transactions maintained by a network of computers.

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