Citibank Innovation to work on own version of bitcoin

Citibank Innovation to work on own version of bitcoin

10 July 2015, 15:11
BlondieNews
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Ken Moore, head of Citi Innovation: the bank has been looking at distributed ledger technology for “the last few years”. Moore was saying it has up and running three separate systems within Citi now that actually deploy blockchain distributed ledger technologies:

"We also have an equivalent to Bitcoin up and running, again within the labs, so we can mine what we call a ‘Citicoin’, for want of a better term. It’s in the labs, but it’s to make sure we are at the leading edge of this technology and that we can exploit the opportunities within it."


Moore said that most of their efforts have been focused on payments; trade probably being a second runner.

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