US Bank's Public Blockchain Pilot: A Step Forward or a Retreat from Decentralization?

U.S. Bank has successfully sent real dollars from North America to Europe on a public blockchain, but with an unexpected twist.

The bank used a token called USBDC, which is tied to its own name and cannot be bought by customers.

This move marks a significant step in the adoption of blockchain technology for financial transactions, but it also highlights the tension between the traditional banking system and the emerging world of cryptocurrencies.

U.S. Bank's use of Stellar as the underlying blockchain platform is notable, given its own announcement that this was merely a test.