CITIBANK DEVELOPING ITS OWN CRYPTOCURRENCY

 In an interesting turn of events, a traditional bank has been experimenting with its own cryptocurrency. Citibank has developed at least three of its own cryptocurrencies based on the same principles as Bitcoin.

This is on the heels of other major league bankers admitting that block chain technology makes some traditional financial services redundant. The traditional banking industry stands to gain a great deal by adopting Bitcoin into its strategy, and this is why it probably comes as no surprise to many readers that Citibank would experiment in such a way.

The question remains as to why they would use their own cryptocurrency rather than simply use bitcoins to make inter-bank transactions, or whatever plans they had for using the cryptocurrencies. There has been no direct statement of reasoning on this aspect, but nonetheless, it would seem there must be some fundamental need that Citibank had, causing it to develop its own cryptocurrency. It would seem a much more reasonable way to store large sums of money, digitally rather than physically, and only have to ship out cash money now and then.

The adoption of Bitcoin by the banking system represents a step forward for the nascent digital currency movement, in that serious acknowledgement at this level means Bitcoin (and others) is more certainly here to stay. After all, it wasn't that long ago that Bitcoin was dismissed by many as a ponzi scheme and still others as unrealistic. Now entire new systems in major banks are being built on the same idea.


Very interesting article folks guess they see the writing on the wall with fiat currency. I do not like the idea of it being regulated which scares me. hich is why I will only choose a crypto currency that is not controlled by the government. We have all scene or are blind to what is going on around the world regarding stability of currencies that are regulated. My plan B protects my family if the dollar crashes I'm good and if it doesn't crash I am still good. I am just happy I have a way to liquidate my assets to a currency that can't be touched by another sole! Hope you enjoy the read it's very thought provoking!

Citi & Crypto Currency. Funny thing is with the lingo being discussed it's obvious that they are way behind in this technology. One Coin can already make global transactions and are tied to Mastercard. The solution. The are seeking is already in play and Dr. Ruja already has the patented technology for the user friendly interface bitcoin has been lacking.

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