Barclays to Speed Up Transactions Using ETH Blockchain

Crowdz blockchain start-up will help Barclays to implement Ethereum's blockchain
28 August 2018   1548

The British financial conglomerate Barclays announced a partnership with the block-start-up Crowdz with the aim of integrating support for the Ethereum blockchain into Barclaycard. With the help of distributed registry technology, it is planned to speed up transactions for users of plastic cards, BitcoinExchangeGuide reports.

It is reported that payments using Barclaycard will be conducted through the Crowdz blockchain platform. First, a small number of users will be transferred to the new platform for testing and debugging the process. The pilot project will take half a year, during which users will be able to leave their feedback and offer options for improving the service.

Crowdz will be able to work with real users of Barclaycard, including corporate clients. If the pilot project succeeds, the start-up will gain access to the retail banking sector.

It is worth noting that the Barclays already cooperated with Crowdz in the framework of the program for the development of financial companies. Now the bank decided to test the blockchain of Crowdz in the real sector of the economy.

Earlier, Barclays Bank announced the study of the possibility of launching a platform for cryptocurrency trading. For this purpose, a special team was created from the top managers of the organization.

ZCash Devs to Create ZEC For ETH Blockchain

ECC, creators of Zcash, believes this may expend their token's popularity and give more people an ability to try Zcash's benefits
14 October 2019   114

The developer of the ZCash cryptocurrency company Electric Coin Company (ECC) will issue a “boxed” ZEC token for the Ethereum blockchain. This was announced at the Ethereum Devcon5 Developer Conference by ECC Vice President of Marketing and Business Development Josh Swihart, CoinDesk reports.

According to him, a new token will be issued in the next six months. It is expected that it will provide enhanced functionality for the use of automated loans and financial products.

Subsequently, the new version of ZEC will be able to help ensure confidentiality in smart contracts to hide information about its members.

One of the most likely reasons for the integration of ZCash and Ethereum is ECC's attempt to expand the audience of users focused on the confidentiality of the coin through the market for decentralized financial instruments.

According to DeFi Pulse, Ethereum-based digital assets worth more than $ 553 million are blocked in DeFi applications. At the same time, ZCash’s popularity has not increased over the past year.

Swihart said the goal is now to turn zcash into a platform developers can build on “for all of the DeFi applications” .

If you want to do lending, if you want to do DAOs [decentralized autonomous organizations], all of that stuff could be done with zcash as well. … Ultimately, we want zcash shielded [addresses] to be usable in ethereum smart contracts.

Josh Swihart

Vice President of Marketing and Business Development, ECC

Nevertheless, ensuring cross-chain compatibility can only be a temporary solution, as it is unclear how this will work in Ethereum 2.0. In addition, such plans mean years of research and development, said James Prestwich, co-founder of Summa.