FedNow showcases DLT-powered payments system as service provider
1 min read
The United States Federal Reserve’s instant payment system, FedNow, has added a company powered by the distributed ledger technology (DLT) platform Hedera Hashgraph to its list showcasing service providers.
On Aug. 14, FedNow’s official website
Meanwhile, some crypto community members criticized the new development, saying that people may have given up on the idea of crypto being an alternative to the corruption in financial systems. On Reddit, a community member expressed feeling hopeless as people cheered on the new partnership. According to the Redditor, it’s understandable that people are trying to get a better financial situation, but it should not be at the expense of having a fair and open financial system.
Earlier this year, other blockchain networks also announced that they will also be connecting to FedNow service but magically disappeared from the site days after being added. On May 11, Metal Blockchain announced that it will be connecting to the FedNow service. However, after a few days, the service provider was removed from the site.
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