Bitcoin has been on the radar of lots of consumers and enterprises as of late, and CME Group wants to strengthen that position by publishing the Bitcoin market price in real time. Dubbed the Bitcoin Real Time Index, this project is scheduled to launch later in 2016.

CME Group and The Bitcoin Real Time Index

As the name suggests, the

Undertaking such a significant project will not be an easy task, though, but CME Group feels comfortable they can update the Bitcoin price every second. But that is not all, as the company is also planning to publish a daily settlement price, which the company calls the Bitcoin Reference Rate. Similar to the market value, this price is also denominated in US Dollar.

Finding the current Bitcoin price from a reliable source is rather difficult for most consumers and enterprises these days. There is a wide variety of solutions available to figure out the current Bitcoin price in US Dollar, which is why CME Group wants to offer this type of functionality by the end of this year.

To calculate the current Bitcoin market price, CME Group and

Last but not least, both parties plan to team up with Imperial College London to develop a code of conduct for Bitcoin Reference Rate participants. Maintaining the integrity of the daily settlement price is of the utmost importance for this project, and that code of conduct will go a long way to ensure exactly that.

Source: News Tip Via Email

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