itBit: Bankchain Project Based on Distributed Ledger, Not Bitcoin

By August 14, 2015Bitcoin Business

BLOCKCHAIN NOT BITCOIN. NEWSBTC illustration. itBit disclosed further details on its Bankchain Project, citing that it will be based on the distributed ledger concept but will not use bitcoin. This project aims to create a private consensus-based ledger for applications to be used in the financial industry.

More and more banks and financial institutions are looking into the potential usages of blockchain or the public ledger of bitcoin transactions in record-keeping or trade settlement. Some […]

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