By CCN: According to Reuters sources, about 12 banks are investing in a blockchain ledger complete with digital cash. While it’s unclear which banks are currently participating in the $50 million project, a spokesman for Barclays told the news organization that “the Research & Development phase is coming to an end.” R&D Phase Ending The rarely discussed project began in 2015 with little fanfare. It supposedly involves several major banks who aim to use blockchain technology to reduce the cost of settlement and potentially offer new products. Reuters describes a bank-backed stablecoin with a broader scope than existing stablecoins: it

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