An anonymous reader writes: British banking group Barclays is set to become one of the first multinational finance bodies to introduce bitcoin technology. The bank has reportedly signed a deal with Safello – a Swedish startup incubated in the Barclay’s fintech accelerator program in London. Safello is an online Bitcoin exchange platform, which allows users to buy and sell Bitcoin using traditional currency. The Stockholm-based company already counts over 20,000 registered users in Europe. The deal will involve a close working relationship creating “proof of concepts”, testing traditional banking methods in blockchain to prove their efficacy. The blockchain trials will be among the world’s first in a financial services environment. Many industry experts believe that blockchain holds the potential to significantly advance financial transactions, as it presents a faster and more cost-efficient alternative to legacy systems currently used for banking.