Workable Blockchain Technology from UK Startup Setl?
Blockchain technology has been enjoying the limelight these days, mostly due to the collaborative project by several major global banks exploring the use of the distributed public ledger in finance. While several industry players are racing to come up with a workable method to run these applications, UK startup Setl claims to have made a breakthrough in blockchain technology. Setl is based in London and was founded by a group of hedge fund investors and trading executives just this year. It is currently in discussions with several established institutions in developing a prototype for a....
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A former official for the UK’s Foreign Office has joined the board of blockchain startup Setl. Martin Clements served as director general for technology and transformation at the UK Foreign and Commonwealth Office. Clements is the second high-profile UK official to join Setl’s board in the past year. Last December, the startup named former executive director of the Bank of England Sir David Walker as its chairman. The announcement follows news that Setl is one of a group of blockchain startups recently greenlit for the startup ‘sandbox’ launched by the Financial Conduct Authority (FCA), a....
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....
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....
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....