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.