R3 Blockchain Development Initiative Grows to 22 Banks Worldwide
The international R3 blockchain project to develop blockchain commercial applications and standards for the financial world just got a whole lot weightier as 13 new global banks joined the distributed or "shared" ledger initiative. R3, the international financial innovation firm, based in New York, London and San Francisco, is a multidisciplinary team....
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Several multi-billion dollar banks including Goldman Sachs, Santander and Morgan Stanley have officially left the R3 blockchain consortium, an organization established by R3CEV to focus on the development of industry standard blockchain-based systems. R3 CEV Shake Up Sees Member Banks Leave Consortium. A few days after Goldman Sachs’ bailout was....
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) announced that it is looking at the blockchain technology that powers Bitcoin as part of new global money transfer initiative. SWIFT provides a network that enables financial institutions worldwide to send and receive information about financial transactions in a secure, standardized and reliable environment. The majority of international interbank messages use the SWIFT network, and SWIFT bank identification codes are routinely used by consumers to identify the recipient bank in wire transfers. According to the SWIFT....
Belgium-based Society for Worldwide Interbank Financial Telecommunication (SWIFT) has officially announced its intention to explore blockchain technology in a global payments innovation initiative meant to improve customer experience by increasing the speed and the reliability of cross-border payments. The initiative is expected to commence in early 2016, and will focus on a business-to-business payments service supported by participating banks. SWIFT provides its products and services to over 10,800 banking organizations, securities institutions and corporate clients. "This initiative is....
Nine major investment banks including J. P. Morgan Chase and Goldman Sachs have partnered with distributed ledger startup R3CEV. The partnership will see collaborative efforts between the institutions take shape, work that will include the development of standards for using blockchain technology within the broader financial industry. The banking group includes Credit Suisse, State Street, UBS, Commonwealth Bank of Australia, BBVA, Barclays and Royal Bank of Scotland. Many on the list have previously announced independent efforts to study blockchain tech, and the banks are said to be....
A team of blockchain technology pioneers from Ghana, Denmark, and the U.S., has launched a blockchain initiative to establish usable land titles and free up trillions of dollars for infrastructure development in West Africa, according to Forbes. The Bitland initiative will educate the population about technology and hopefully foster the benefits of documented land ownership to those who don’t have it. It will begin in Ghana and expand throughout Africa, with hopes of catapulting infrastructure development and strengthening democracy. Ronny Boesing, the CEO and founder of CCEDK, the Danish....