Barclays and UBS are reported to be leading efforts to develop and integrate Ethereum into areas of their businesses , with this company describing Ethereum as ' Bitcoin 2.0 ' . However , a spokesperson from Barclays said that the project was at a very early stage of development . Ethereum is a non - profit organisation that offers an open - source distributed computing platform with a value token called Ether , which can be used like currency . "It's the beginning. The same source from Barclays also revealed that most banks have now developed their own ' coins ' ( their own cryptocurrency ) .
Barclays and UBS are reported to be leading efforts to develop and integrate Ethereum into areas of their businesses , with this company describing Ethereum as ' Bitcoin 2.0 ' . However , a spokesperson from Barclays said that the project was at a very early stage of development . Ethereum is a non - profit organisation that offers an open - source distributed computing platform with a value token called Ether , which can be used like currency . The same source from Barclays also revealed that most banks have now developed their own ' coins ' ( their own cryptocurrency ) .