Professor Vladimir Frolov, who has founded several regional banks in Russia in the past, has announced a new payments system based on cryptotechnologies. According Frolov’s recent Facebook post, the project dubbed Copernicus Gold will kick off in early 2017 in Singapore.
The news suggesting that several major banks are about to develop a new digital currency have agitated both crypto-community and professional economists.
Several big-name companies from across both financial and technological sectors, including Cisco, Wells Fargo, London Stock Exchange Group, JP Morgan, Intel, Fujitsu, SWIFT, and IBM announced they created a consortium under the aegis of the Linux Foundation in order to develop an alternative for the blockchain technology.
SWIFT, the international communications platform for international banking, announced a possible “roadmap” that might include the blockchain technology. As for now, they speak of improving the correspondent banking area. According to the statement, the organization expects the amendments to become effective as of early 2016.