ING Bank Participates in R3's Comparative Test of Distributed Ledgers and Cloud Platforms
Last week Bitcoin Magazine reported that 11 member banks of the R3 consortium, a collaborative group of the world’s largest and most influential banks and financial institutions, participated in a pilot test of the Ethereum-based blockchain network. The banks connected on an R3-managed private peer-to-peer distributed ledger, powered by Ethereum....
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GFT Technologies, an IT service provider for the banking industry, has revealed it will be testing blockchain technology on Google’s Cloud Platform. GFT Believes Google’s Cloud Service Will Help Them Promote Distributed Ledger Tech. The Stuttgart-based GFT is an IT provider and business consulting service for European banks. The company has announced its....
In one of the first instances of blockchain technology developed and tested for accounting systems rather than post-trade settlement and securities processes among financial institutions, the SBI Sumishin Net Bank in Japan has conducted a successful blockchain test which saw distributed ledgers replace their actual ledgers. A three-month long experiment by Japan-based SBI Sumishin Net Bank in collaboration with Singapore Fintech startup Dragonfly Fintech and Japanese blockchain solutions provider Tech Bureau Corp – developer of Mijin, the distributed ledger tech used in the experiment —....
Trying to make sense of how Russia feels about Bitcoin and blockchain has become increasingly difficult as of late. Now, the Russian Central Bank strongly feels blockchain and distributed ledgers are not the same thing. It is not the first time the Russian Central Bank has shown keen interest in distributed ledger technology, as the financial institution....
In a transcript of a cancelled speech released online today, Bank of England Governor Mark Carney cited a "central bank digital currency" as a development that could result from its ongoing distributed ledger proof-of-concepts. The remarks come as global central banks begin to experiment openly with distributed ledgers, a technology inspired by the decentralized, public ledgers used to run cryptocurrencies. But, whereas bitcoin and other cryptocurrencies perhaps sought to create wholly new financial systems, distributed ledger projects are aimed at reducing settlement times and....
Growth in the use of both digital currencies and distributed ledgers could hold regulatory and monetary policy implications, a senior official for Japan’s central bank said today. Speaking during a fintech event at the Univeristy of Tokyo, Bank of Japan deputy governor Hiroshi Nakaso remarked about the benefits and risks of the increasing digitization of financial services. Particularly, the noted that the use of distributed ledgers could lead to confusion among regulators in instances where wholly electronic ledgers are maintained. He told attendees: “Moreover, if FinTech stimulates....