Barclays finds blockchain nirvana in USC

Utility Settlement Coin could transform financial markets, but first its backers must prove it is secure, says the bank

It is billed as blockchain nirvana: a digital fiat currency that uses distributed ledger technology (DLT) to process and settle transactions in near real time.

Several initiatives are vying to be first out of the gate. John Stecher thinks Barclays has backed a winner in the utility settlement coin (USC).

Before joining the UK bank in August 2017 as group chief technology officer (CTO) and chief innovation officer, Stecher worked at Goldman Sachs, where he built its Marcus-branded consumer

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