- Rutter said the initial focus would be to agree on an underlying architecture, but it had not yet been decided whether that would be underpinned by bitcoin’s blockchain or another one, such as one being built by Ethereum, which offers more features than the original bitcoin technology.
I don't like this - to me, it sounds like the biggest banks are just grouping up together to create their own currency to fuck everyone over. I mean - they can't stop making money if they control the creation and distribution of it right? But I might be paranoid.
This is so strange. Cyberpunk future, here we come. *First Edit - There are going to be giant server farms of super efficient bitcoin miners run at super efficiency to start generating bitcoin for the cartel. They are also probably going to buy up a fair chunk of bitcoin and several other cryptocurrencies in order to secure an exchange forum, which is a guaranteed payoff in the long run. What this is going to to to the cryptocurrency markets, I haven't the faintest idea. If they connect to ethereum it will be a significantly longer time until the investment pays off, but it would secure them a market share for pretty much as long as there is digital marketplace, and if they are the first, they can set the standards and position themselves for a de facto monopoly on certain kinds of ethereum based functions.