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Bank of America Explores Blockchain with Algorand and Ripple

Bank of America Explores Blockchain with Algorand and Ripple

Bank of America is the second-largest bank in America and their aversion towards the blockchain technology has been pretty well-documented. However, it turns out that the financial giants are warming up to blockchain technology. They have been secretly testing out Ripple’s DLT in its banking system.

bank of america

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According to FXStreet, article

“Bank of America will likely use one of Ripple’s flagship products, xCurrent. Bank of America is silent on the issue owing to its previous hard stance on blockchain-related services. Interestingly, the bank listed a job posting in search of a “Ripple project product manager.” This makes it pretty evident that they are serious about blockchain and, specifically, Ripple adoption.”

Why Algorand?

Algorand is an open-source software company building technical innovation for the borderless economy. The brainchild of Silvio Micali is ably supported by a strong team and backed by solid engineering and cryptographic principles. The platform has recently attracted a lot of attention from institutions. One of these institutions happens to be the “Bank of America.”

  1. […] Bank of England also seems interested in exploring Algorand’s technology, as this versatility offers the possibility of co-chain, a formula for controlling […]

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