Meet the 25 Banks Working With Distributed Ledger Startup R3
Distributed ledger startup R3CEV announced the addition of three new banking partners to its blockchain project last week, raising the total number of banks involved to 25. The list of partners includes banking giants such as Goldman Sachs and Santander, both of which have already dipped their toe in the world of crypto through investments in Circle Internet Financial and Ripple, respectively. For some of the other banks, this partnership with R3 marks their debut in the increasingly trendy distributed ledger space, which is broadly seeking to apply the underlying technology of bitcoin to....
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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....
Crypto-finance company Epiphyte has won the SWIFT Innotribe Startup Competition at the Sibos 2014 technology and innovation trade show in Boston. The company earned the competition's $50,000 'Top Startup' award with cBridge, its first crypto product targeted at international banking and financial institutions. Epiphyte CEO and founder Edan Yago said it was "very gratifying" to win the prize at the world's largest banking convention. He added that banks, bitcoin and other distributed ledger systems have a lot to learn from each other. Epiphyte specialises in distributed ledger solutions for....
The four major accounting firms in the world are set to meet with the American Institute of Certified Public Accountants to discuss the establishment of a distributed ledger consortium. Known as the 'Big Four', Deloitte, Ernst & Young, KPMG and PwC will be looking at various Blockchain solutions for the accounting sector just as the R3 Consortium - which has over 50 members - has been doing the financial sector. R3 seems to have set a trend. R3 and over 15 of its consortium member banks recently successfully completed two prototypes which demonstrate how distributed ledger technology can....
The Depository Trust & Clearing Corporation (DTCC) has selected a series of firms to help integrate distributed ledger technology into its first large-scale, real-world application. In the single, complex deal involving a distributed ledger consortium, a stock exchange, a tech startup, a legacy computer firm and an international collection of bulge bracket banks, the post-trade financial services company has begun the process of moving a significant part of its $1.5qn-worth of transaction workflow to a distributed ledger network. With a contract announced today, IBM will help manage....
Royal Bank of Canada (RBC) has revealed it is working on a new proof of concept (PoC) for distributed ledger-based remittances using technology offered by industry startup Ripple. The announcement comes via a new Deloitte Tech Trends publication in which the professional services firm discussed how it worked with RBC as it sought to better understand distributed ledger technology and how it could be applied to remittances. RBC and Ripple, Deloitte said, are now working on a "limited production" PoC with the goal of evaluating how the distributed ledger trial could impact other....