Among all the traditional business adopting blockchain, financial institutions are at most forward. Giants like Bank of America, HSBC, JPMorgan, etc. have embraced the innovative tech.
However, interoperability among financial institutions has still not been achieved on a large scale. Going forward, interconnectedness is the key sharing of resources and information. Ethos Bedrock aims to do just that.
Ethos Bedrock is growing strong with passing time, which means bettering connection between financial institutions. The platform recently tweeted that it will be adding Cardano to its platform after its next update.
Ethos Bedrock is actively evolving and growing.
We've upgraded our UTXO system to support Cardano in our next release.
Now, we're building the system for crypto deposits for @investvoyager and additional partners.
Our engineers have been hard at work!
The future is bright! pic.twitter.com/s0d6BQ5kS3
— Ethos.io (@Ethos_io) May 8, 2019
The platform focuses on building a safe and secure financial ecosystem, which would be fair to everybody. Ethos also aims at building a financial system inclusive of people from all classes and backgrounds. Last month, Ethos was added in the Monetha Payment Gateway, which has opened doors of new opportunities for the platform.
Blockchain technology is said to be the future of the global economy. Giants like IBM, Microsoft, JPM, HSBC, TCS, Intel, etc. are investing hundreds of millions in the tech, which speaks volumes about the potential of DLT. Facebook and JPM, in fact, are also creating a cryptocurrency for themselves.
The payments sector is getting heavily connected on blockchains, with IBM launching its own DLT based World Wire payments platform in collaboration with Stellar, while segment leader VISA is also exploring the blockchain space.
Also, the Master of Investments, the Legendary Warren Buffet has also backed blockchain technology, though he bashed Bitcoin and other cryptocurrencies. And Elon Musk’s love affair with blockchain and digital assets is in the open too.
Last year, after the crypto market crash, venture capitals shifter their focus to blockchain start-ups. More than $5 billion was invested in the start-ups in 2018, a significant bump from the preceding year’s $1.5 billion.
All of this shows that the competition in the DLT segment is increasing exponentially. For start-ups like Ethos to stay relevant in the market, continuous innovation and strong efforts for adoption are quite important. The platform has been doing well in this direction, and silently, has spread its wings far and wide.