Ten world banks are to create a common crypto currency

IT corporation Microsoft has joined the research group IC3. This initiative is built by the professors of leading US universities developing blockchain solutions for financial sector. The organisation holds experiments on the distributed register, game theory, cryptography, programming languages and security. Microsoft representatives announced they are impressed with the scale of experiments and hope to use received data for strengthening the security of its platforms.

Ten world banks have combined to form UBS project aimed to creation and implementation of a new cryptocurrency. It will be based on the blockchain technology. The digital currency will be implemented to securities. Financial institutions will be able to make instant transactions before money becomes available in a traditional way.

Cryptocurrency will be converted into fiat money in banks. Deutsche Bank, Credit Suisse, Barclays, HSBC, State Street, Santander, Canadian Imperial Bank of Commerce, MUFG и BNY Mellon as well as ICAP stockbroker are the project members for now. Banks are planning to run test on new digital asset already in 2018.

Stories, the function of short stories is now available in Instagram desktop version. As for now the social network users can only watch self-deleting videos on their computers. Download function is only supported with the mobile version. The update will be available within next two weeks.

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