R3: Biggest-Ever Blockchain Trial is Only the Beginning
After revealing an impressive string of big bank partnerships toward the end of 2015, blockchain consortium startup R3CEV spent the beginning of this year opening up to the public about its research and development efforts. First came a test involving next-generation blockchain platform Ethereum in January. However, its biggest show of force came on 3rd March, when it revealed it had conducted a trial that found 40 of its 42 banking partners testing five blockchain technologies in a collaboration distinguished by its size and scope. While the trial itself was centered on commercial paper....
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London-based blockchain and fintech startup GovCoin Systems Ltd., has been chosen by the UK Department for Work and Pensions to trial a new blockchain-based trial for welfare payments. In a press release today, it is revealed that the United Kingdom’s Department for Work and Pensions has an ongoing proof-of-concept trial where welfare payments are being recorded on a distributed ledger or blockchain. The trial commenced in last month in June, with the aim to develop a more effective and tamper-proof technology to be adopted by recipients of the welfare system. The trial also sees the....
This week saw the beginning of alleged Silk Road operator Ross Ulbricht’s trial in a federal courthouse in Manhattan. Ulbricht’s counsel began the trial on an interesting note, arguing that Ulbricht indeed founded the site, but that he was not the Dread Pirate Roberts, the mysterious operator of the online free marketplace. In a cross-examination of DHS....
The Bank of Ireland, in collaboration with services firm Deloitte has successfully completed a joint proof-of-concept blockchain trial. The trial demonstrated the implementation of a distributed ledger as an accessible data layer, over existing financial systems while focusing on trade reporting. In a press release communicated to CCN by the Bank of Ireland today, the bank has, in partnership with Deloitte, announced the completion of a proof-of-concept blockchain trial. The successful trial demonstrated the means for distributed ledger technology to enable banks to combine the innovation,....
Australian blockchain company TBSx3 has successfully completed its biggest trial with the innovative technology to tackle the issue of fake goods. In a report from The Australian Business Review, the company employed the use of a 44 alphanumeric character security cryptography to deliver a blockchain-based verification system. This is compared to the six-digit public cryptography that is typically used. A few of the big names within the freight industry also took part such as DP World Australia, DB Schenker and Hamburg Sud while KPMG advised TBSx3 on the trial. The trial involved the....
The People’s Bank of China (PBOC) has completed a trial run of digital currency based on blockchain technology. According to a recent report from Chinese publishing giant Caixin, the central bank completed a trial that saw transactions settled with its own digital currency. Developed by the PBOC, the digital currency was tested on a blockchain and the trial was completed in mid-December 2016. The trial took place on shared distributed ledger that saw several major commercial banks as participants. The world’s largest bank by assets, the Industrial and Commercial Bank of China along with....