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Goldman Sachs (NYSE:GS), the investment banking behemoth, wants to use blockchain technology to replace the traditional foreign exchange (FX) market, according to a Patent Application released by the US Patent and Trademark Office. Last year it was revealed in a similar manner that the bank was working on a Cryptographic Currency For Securities Settlement or a so called “SETLcoin”.
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In its application, Goldman lists problem both with the current way FX trading is being handled and what it perceives as problems with cryptocurrencies. It says that financial transactions on the FX market can ... (read more)