The Bank of England (BoE)- UK's Central Bank- today announced that it will strive to accommodate fintech companies utilising blockchain technology through its upgraded payments system- expected to be launched around 2020, according to Reuters.
According to Coindesk, today's announcement is "the latest in the BoE's ongoing efforts to modernize its Real-Time Gross Settlement system (RTGS), which is essential for banking and trading in Britain and handles transactions worth around £500 billion annually, or almost a third of the country's economic output."
Reuters reported that in March this year, the BoE sought feedback from fintech companies utilising blockchain technology on the required changes to the RTGS in order to support them.
The above development definitely augurs well for the future of blockchain technology and the long term viability of cryptocurrencies with coherent development blueprints.
For readers who are currently interested in trading cryptocurrencies, I would recommend the EASYMARKETS online trading platform.
The EASYMARKETS trading platform lists Bitcoin, Ethereum and Ripple.
EASYMARKETS was established in 2001 and has built up an enviable reputation as a trustworthy and innovative online broker.
Kindly refer to my previous article regarding the benefits and key features of EASYMARKETS.
For traders who wish to avail of this amazing platform, you may register here.
Please feel free to download a complimentary guide to trading psychology by EASYMARKETS.
Cheers,
All the best for your trading endeavours!