Banks, R3, Explore Blockchain Tech For Managing Reference Data
A group of banks is testing blockchain technology as a way to better manage reference data for the products they trade. Seven banks, including Citi, HSBC and Alliance Bernstein (AB), has joined R3, a bank consortium studying blockchain, and Axoni, a blockchain technology firm that uses blockchain in settling derivative transactions, to determine if the technology can simplify reference data processes, according to Axoni. Banks Complete Proof Of Concept. Working through the Securities Industry and Financial Markets Association (SIFMA), the companies completed a proof of concept (PoC)....
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