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Blockchain developers face off over $1 bn in digital cash

The suits are a sign of a break between R3 and Ripple

Jef Feeley Olga Kharif & Matthew Leising | Bloomberg 

Two of the world’s largest blockchain developers are battling over more than $1 billion in virtual-currency options, in a dispute that may help establish the leading player in providing new payment technologies to financial companies. R3, a blockchain startup that leads a group of more than 100 firms, sued rival Ripple Labs in state court in Delaware, accusing it of reneging on an options agreement for Ripple’s XRP digital currency that is now worth more than $1 billion. Ripple filed its own suit in California accusing R3 officials of duping them on other ...

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First Published: Sat, September 09 2017. 20:58 IST