“In a move that should be of no surprise to anyone familiar with the space, Citibank has admitted to running a test platform for digital currencies and is pondering its own solution, CitiCoin. According to the International Business Times, Citigroup has built its own digital currency based on bitcoin and the blockchain. Kenneth Moore, head of Citigroup Innovations Lab, saw this as a way to move money from country to country and foresaw an internal ‘mining’ network that allowed endpoints to generate the work necessary to maintain the ledger. While it’s noble for banks to attempt these systems – and they will be attempted again and again – it’s important to note that banks want control.”
http://techcrunch.com/2015/07/07/citibank-is-working-on-its-own-digital-currency-citicoin/
Tip Freedomwat.ch Staff with Bitcoin