Majority of Global Exchanges Now Testing Distributed Ledger Tech
A global trade organization for financial exchanges released a new survey today on distributed ledgers, highlighting views held by industry incumbents regarding the technology. Twenty-four firms, constituting exchanges, central securities depositories and central counterparties, collectively dubbed "financial market infrastructures", or FMIs, took part in the survey, published by the World Federation of Exchanges (WFE). In total, there were 25 participants, and of those services, 21 said that they were actively exploring applications of the technology. Firms who participated in....
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A new survey shows financial professionals are increasingly bullish on blockchain and distributed ledger tech, even as they profess to a lack of understanding of the subject matter. Conducted by think tank and distributed ledger specialist Z/Yen Group at the Bankers' Association for Finance and Trade (BAFT) Global Annual Meeting in Paris this January, the poll found that while 70% of respondents said the financial institution they work for is exploring the technology, 69% reported they don't believe they have a “good grasp” of how it works. Overall, 73% of respondents reported they had....
Blockchain startup R3 has revealed the completion of a new test that involved a total of 11 banks connected to a peer-to-peer decentralized distributed ledger. The experiment is likely to figure among the earliest examples of multiple banks using a distributed ledger to exchange value, successfully. In a press release today, R3 co-founder Todd McDonald has announced the completion of a distributed ledger experiment where 11 global banks participated in the simulation of exchanging trades and value on an R3-managed distributed ledger. Each bank was connected to a private, R3-managed....
DH Corporation ("D+H") has announced its partnership with Ripple and now the company aspires to work on delivering innovative payment capabilities by integrating Global PAYplus which is its global payment services hub with the help of Ripple's distributed ledger technology. With this, the two are hoping that they will be able to create a solid foundation for further disruptive payments innovation. DH is a name to reckon with and is a leading financial technology provider on which world's major financial institutions rely while Ripple provides global financial settlement solutions to enable....
London-based Standard Chartered and Singapore-based bank DBS have partnered together to develop a distributed ledger for trade finance in Singapore after successfully testing the technology among each other. As reported by Bloomberg, the two banks are coming together to work and develop a distributed ledger in order to make transactions simpler and more transparent in trade finance. The publication adds that the two banks have tested the distributed ledger between themselves, successfully, and will invite other companies to collaborate with the now proof-of-concept system in 2016. The....
The European Central Bank is weighing the use of distributed ledger tech in partnership with Japan’s central bank, one of its senior officials said today. Speaking today at the Handelsblatt Annual Conference Banken-Technologie in Frankfut, ECB executive board member Yves Mersch offered new details on its work in the area. Mersch said that the the two institutions plan to explore the tech over the next months, with an eye to publish the results of its research sometime next year. The ECB has also formed an internal task force focused on distributed ledgers, building on past research....