Vela Technologies - Re: VELA Stream Log - A bit of good block...

A bit of good block chain press .... UBS Develops ‘Settlement Coin,’ Bringing Block Chain To Financial Markets Bitcoin Research, Fintech, News, World Finance 07/09/2015 by Elliot Maras UBS is working on a block chain based “settlement coin” that financial institutions will use, according to The Wall Street Journal. Unlike bitcoin, the UBS “utility settlement coin” would link to real-world currencies and central bank accounts. Oliver Bussmann, CIO of Switzerland-based UBS, said the coin will help establish the block chain in global finance. The currency, being developed with Clearmatics, a London-based firm that makes clearing machines for OTC markets, could reduce transaction settlement times. The coin could reduce settlement time from two or three days to a matter of seconds. UBS’ new cryptocurrency lab in London is leading the initiative, according to Financial News, a London-based newspaper.