Blockstack, a San Francisco-based firm, is adapting the technology of Bitcoin for mainstream finance, including clearing and settlement. A small group of banks have started beta testing Blockstack’s technology, Bloomberg Business reports .
The startup, run by former Google Inc. and Nasdaq OMX Group Inc. employees, is jumping into the competition to use digital-currency technology to tackle financial companies’ slow, antiquated back-office operations.
“We’re not trying to destroy banking or financial services as they are today,” […]
