Barclays to Speed Up Transactions Using ETH Blockchain

Crowdz blockchain start-up will help Barclays to implement Ethereum's blockchain
28 August 2018   728

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.

AION to Unveil Future Plans

Foundation sold half the BTC and ETH, and it did it very well - at the beginning of this year
06 December 2018   157

The Aion Foundation, which is responsible for the development of the protocol of the same name and collected $ 23 million in Bitcoin and Ethereum on ICO in October last year, published a report in which it shared information about its financial operations. The report was prepared with the support of Deloitte, however, it cannot formally be considered an audit.

According to the Aion Foundation CEO Matthew Spoke, the foundation sold half the BTC and ETH, and it did it very well - at the beginning of this year. Having spent $ 10 million on launching its blockchain platform and opening offices in Canada, China and Barbados, the fund had assets of $ 14 million as of October 31 of this year, $ 5.8 million of which was placed in Fiat.

We’ve liquidated a decent amount of our bitcoin and eth that we raised as proceeds to make sure that we are stable in this type of period. As we continue to spend in our operations we’ll end up liquidating more bitcoin and eth over the course of the next few months.

Matt Spoke

CEO, Aion Foundation

The Aion protocol has already attracted active users, including the video game start-up ClanPlay, but Spoke claims that his company will continue to rely on hard currency.

The foundation has roughly 18 months of runway, Spock estimates, while developing his system to a level at which it can compete with centralized counterparts, such as Amazon Web Services, will take about five years. Aion expects to launch its first Java-based virtual  machine, thanks to which developers can use decentralized tools, by the second quarter of next year.

Spoke suggests that at this time his company will have to attract additional funding from cryptocurrency funds and accredited investors in exchange for their own tokens. His goal is to prevent the reduction of the team, which currently includes 61 people, and the operation of the Ethereum model of ConsenSys, a company sponsoring projects in its own ecosystem.

In the future, Aion intends to publish such reports on a quarterly basis and transfer data to the Messari network in order to increase the confidence of its tokens holders.