They say you can tokenize just about anything on the Ethereum blockchain. One group is using that functionality to bring another tokenized version of bitcoin (BTC) to the cryptoeconomy.
That group, the Universal Protocol Alliance, is a consortium of blockchain companies focused on tokenizing non-Ethereum blockchain projects on Ethereum. The alliance’s founding members include the exchange Bittrex, blockchain security startup CertiK, crypto lender play Cred, Basic Attention Token (BAT) creators Brave, and more.
Accordingly, the UP Alliance members have banded together to build the Universal Protocol Platform, a step toward “all cryptocurrencies [being] convertible on a single network,” as the coalition’s website explains.
Universal Bitcoin UPBTC
Beyond the announcement of their Universal Dollar (UPUSD) stablecoin last week, the group announced on March 13th that their first major cryptocurrency token launch will be their release of Universal Bitcoin (UPBTC), a token pegged to the value of bitcoin, that the coalition says…