Santander Launches Blockchain Challenge

Santander InnoVentures announced an open DL Challenge for fintech startups using Blockchain technology. The grand prize will be US$15,000 along with the promise of future angel investment. The goal of the DL Challenge is to “inspire innovation and encourage entrepreneurship” for startups worldwide. The competition is focused on mortgage processing, trade finance and asset leasing. Participants will be selected by a panel of DL and blockchain technology experts during the Challenge event in January, 2015. Mariano Belinky, managing partner of Santander InnoVentures, said: “Distributed ledger....

Santander InnoVentures has announced the launch of a global blockchain competition which seeks to support early stage startups using distributed ledger technology. The Spanish megabank's $100m venture capital firm - which recently participated in Ripple's $32m funding round - is offering the winner a $15,000 cash prize as well as access to its technology and business experts. Mariano Belinky, managing partner of Santander InnoVentures, said in a statement: "Distributed ledger technologies will create huge value for customers, banks and entrepreneurs who create new businesses around it. The....

Santander Innoventures, the $100 million fintech venture capital fund of multi-billion dollar Spanish banking group Santander, has partnered with startup agency OneVest to run a Distributed Ledger (DL) Challenge for early-stage startups. Specifically, the bank will be actively searching for blockchain-based startups targeting mortgage processing, trade finance and asset leasing, and technologies which could help the bank bridge conventional payment systems with decentralized payment networks like the blockchain. "Distributed ledger technologies will create huge value for customers, banks....

During their introduction at this week's Distributed Ledger Challenge in New York, Santander InnoVentures managing partner Mariano Belinky and Banco Santander R&D chief Julio Faura spoke at length about the bank's interest in the blockchain and how it believes the technology can significantly reshape how it does business. "It’s something we really believe is going to change the world," Faura said at the time. Held this Wednesday, the event saw five startups pitch their businesses to a panel that included both Santander officials as well as representatives from the bitcoin and blockchain....

Santander, the Spain-based bank, has presented a project to use tokenization in tandem with the digital real, the proposed Brazilian cryptocurrency, in order to facilitate property transactions. The proposal, part of the LIFT challenge, would be focused on simplifying the sale of real estate properties and cars for the Brazilian population. Santander Proposes Tokenization Platform for Assets Santander, one of the largest banking institutions with a presence all over the world, has presented a proposal to enhance the use case of the proposed central bank digital currency (CDBC), the digital....