SETL: The Private Network of Blockchains
It seems that private networks of different blockchains are becoming very popular these days. The permissioned blockchain platform SETL has been making headlines recently with its ability to process 1 billion transactions per day. The firm, headed by SETL.io CEO Anthony Culligan, says that permissioned blockchains like his team’s project are the....
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Comment added from Setl CEO Anthony Culligan. Blockchain platform Setl claims it is now capable of processing 1 billion transactions per day, a figure it terms a "milestone" for scaling the technology. The firm, which is building a private network of distributed ledgers that can settle cash and assets in real time, says its testnet can now match the volume of non-cash electronic payments made globally. When announced in July, Setl's network was handling 5,000 transactions per second, which amounts to 432 million a day. The company said in a release: "By exceeding 1 billion transactions per....
Many people argue that private blockchains, run by private firms, are useless, since they make users dependent upon a third party ‒ the firm managing the blockchain. Many believe that private blockchains currently being considered are not blockchains, but rather, distributed ledger technology which has already existed. Others believe private blockchains could provide solutions to many financial enterprise problems that Bitcoin does not, such as abiding by regulations such as the Health Insurance Portability and Accountability Act (HIPAA), anti-money laundering (AML) and know-your-customer....
Blockchain platform Setl has appointed former executive director of the Bank of England Sir David Walker as its new chairman. A financial markets veteran, Sir Walker has also served as chairman of Barclays, Morgan Stanley International and the Securities and Investment Board. He is also a senior member of the G30 group, which elaborates and promotes progress in international payments and settlements. Prior to his career in financial markets, Sir Walker was the assistant secretary to the Treasury for the UK government. Speaking about his upcoming role at Setl, Sir Walker said in a....
London-based startup Setl has claimed a milestone by breaking through the 1 billion transactions-per-day barrier for blockchain movements during testing, reports the Financial Times. The breakthrough will inevitably lead to institutions in the financial services industry to further look at blockchain as a viable, large-scale model to process transactions every day. Blockchain platform and UK start-up Setl, founded by a group of executives and hedge fund investors this year had also previously announced plans to deploy a payment and settlements infrastructure with over 40 financial....
Peter Randall, one of the founders and former CEO of the alternative European stock exchange Chi-X, and Anthony Culligan, founder of peer-to-peer bitcoin trading venue Roolo, have announced to launch blockchain startup SETL. SETL will introduce a permissioned blockchain that is set to run on enterprise level servers and is said to be able to handle 100,000 transactions per second. SETL will initially target the payments business to subsequently move into financial markets including foreign exchange, bonds and possibly stocks. Much like the Bitcoin blockchain, the SETL blockchain will allow....