Turkish banks switch on digital gold transfer network
17 January 2020
Turkish banks have begun the transfer of a cryptocurrency representing physical units of gold via a blockchain platform developed by Istanbul Clearing, Settlement and Custody Bank (Takasban).
The private cryptocurrency, dubbed BiGA, represent the equivalent of one gram of gold stored in the vaults of the Istanbul Sotck Exchange.
The BiGA blockchain platform and gold transfer system caters for the export, amortization and transfer of digital assets, and also feature integration, reconciliation, monitoring and reporting capabilities.
Bank participating in the project, and transferring BiGA units in real-time across the network, include state lenders Ziraat and Vakif, Garanti BBVA, Albaraka Turk, Kuveyt Turk, and Ziraat.
Futures iterations will see the systems extended to end-users via mobile wallet applications that will be provided by the banks participating in the project.
Source: Finextra
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All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2019 Dinar Chronicles
17 January 2020
Turkish banks have begun the transfer of a cryptocurrency representing physical units of gold via a blockchain platform developed by Istanbul Clearing, Settlement and Custody Bank (Takasban).
The private cryptocurrency, dubbed BiGA, represent the equivalent of one gram of gold stored in the vaults of the Istanbul Sotck Exchange.
The BiGA blockchain platform and gold transfer system caters for the export, amortization and transfer of digital assets, and also feature integration, reconciliation, monitoring and reporting capabilities.
Bank participating in the project, and transferring BiGA units in real-time across the network, include state lenders Ziraat and Vakif, Garanti BBVA, Albaraka Turk, Kuveyt Turk, and Ziraat.
Futures iterations will see the systems extended to end-users via mobile wallet applications that will be provided by the banks participating in the project.
Source: Finextra
______________________________________________________
If you wish to contact the author of any reader submitted guest post, you can give us an email at UniversalOm432Hz@gmail.com and we'll forward your request to the author.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2019 Dinar Chronicles
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