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News

Ethereum gaining interest in new industries

By Victor Hedman - June 14, 2017

Reuters, the news and statistic agency, intend to bring their business to the Ethereum blockchain says the New York Times. They will be releasing a tool called BlockOne IQ. Wall Street firms can use Reuters data and plug the data into the blockchain.

The goal of BlockOneIQ is to enable companies to implement blockchains into their businesses easier.

New York Times goes on to mention that a lot of big banks and investors have invested a lot of money in blockchain technology to revolutionze the finance industry. They do mention an issue of scaling. With the recent upswing of interest in cryptocurrencies, many of the blockchains has not been able to handle the increased traffic. The Bitcoin network has slowed down significantly and transactions costs have skyrocketed. Ethereum has during major ICOs been very slow but has so far handled the increase in traffic well.

Vitalik and the core development team are expected to release Raiden, an update of the Ethereum. It is expected to be released in the beginning of September and its main goal is to adress the issues of increased traffic.