THELOGICALINDIAN - Bitcoin and Blockchain are alike to anniversary added for blockchain is the accepted cryptocurrencys basal technology After Bitcoin abounding another cryptocurrencies accept appear up which still uses a broadcast balance either agnate to or acquired from Bitcoin blockchain However the USbased blockchain aggregation MonetaGo intends to change that for the accessibility of axial banks
In a recent interview with one of the arch account publication, MonetaGo has mentioned that it is activity to abstracted Bitcoin and blockchain technology. It is still cryptic as to how they are activity to do that as these cryptotokens (Bitcoin, Ethereum or any added altcoin) are the units which accomplish blockchain what it is. The cryptotoken affairs and the arrangement admeasurement comedy a cogent role in ensuring the aegis and abstracts candor on broadcast ledgers.
It is absolutely accessible that the company’s account meant that it is activity to use an another blockchain belvedere instead of Bitcoin blockchain to actualize cyberbanking solutions. MonetaGo afresh took allotment in a pilot with Indian axial bank, the Reserve Coffer of India.
A media address states Jesse Chenard, the CEO of MonetaGo advertence that the use cases for blockchain technology goes above basic currencies and that’s what the aggregation is absorption on while alive with cyberbanking institutions in India. MonetaGo is currently in talks with the Reserve Bank and added bartering banks in the country to advance blockchain basement for payments, remittance, and trade-finance adjustment processes.
However, there accept been abundant instances area industry experts accept argued that Bitcoin blockchain is the best abiding and defended advantage amidst all. Bitcoin currently has the better arrangement amid all agenda currencies with the accomplished hashing power. Other another clandestine or permissioned blockchains will not be able to bout Bitcoin’s broadcast ledger, authoritative them added affected to attacks.
A agnate affair has been accurate by Saurabh Aggarwal, the CEO of ZebPay — one of the India’s “big four” Bitcoin platforms. He mentions that application “blockchain” after its basal badge is as acceptable as application any added database and the applications of such an adjustment are limited.
There are few projects already underway, with arch cyberbanking institutions in the country alive in affiliation with blockchain platforms. The consistent articles are yet to accomplish it to the market. India is aperture up to cryptocurrency technology, and added organizations are accepted to alpha exploring the technology soon.
