Why Rabobank's Blockchain Cross-Border Tool Isn't Just a Database
Dutch multinational bank Rabobank today announced a cross-border payments tool built on Coin Science's multichain distributed ledger. Developed in partnership with financial technology provider D+H, the new project envisions how distributed ledger tech could enable more than a faster way to move money. In addition to the cross-border payments functionality, the blockchain tool notifies recipients before taking any actions so they can decide if they want to receive the money and in what form. Then, it lets the bank's independent affiliates work from a shared accounting ledger. Rabobank's....
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Multi-billion dollar financial services corporation D+H states that its development team successfully tested its proof-of-concept Blockchain with Dutch financial company Rabobank. Netherlands-based Rabobank, which has an annual revenue of nearly US$15 billion dollars, collaborated with D+H in running the company’s first preliminary tests with Coin Sciences’ proof-of-concept multi chain Blockchain solution. Rabobank and D+H claim to have acquired the evidence needed to prove that their Blockchain solution is able to process cross-border payments in real-time. The two giants in global....
The UK government has awarded £248k to a startup that is building a cross-border payments tool using Ethereum. Founded in 2007, Innovate UK is a nondepartmental public office dedicated to fostering innovation through grants and investments. In interview, Tramonex co-founder and CEO Amine Berraoui said his company will use the money to further develop its cross-border blockchain tool. London-based Tramonex already offers cross-border money transfers across 45 different currencies. Berraoui told CoinDesk: "We are quite advanced in our prototype already, it’s more about looking for....
Rabobank has a proven track record of supporting innovative ideas, either through partnerships or investments. Financial institutions have a vested interest in blockchain technology, and that become even clearer when Rabobank announced their partnership with NexusLab. This gives the Dutch bank every opportunity to work with distributed ledgers, and ten startups will partake in their very first Startupbootcamp round. Dutch bank Rabobank has been experimenting with blockchain technology for quite some time, and they are currently focusing on four key areas. International payments,....
A group of seven large European banks has signed a memorandum of understanding (MoU) to develop a blockchain-powered cross-border trade finance platform for small and medium-sized companies in Europe. The participating banks are UK-based banking giant HSBC, Dutch institution Rabobank, French financial institutions Société Générale and Natixis, Italian banking group UniCredit and Belgium-based KBC. Aimed at bettering domestic and cross-border commerce cross-border commerce for companies in Europe, the newly form banking group will come together to develop, deploy and push for adoption of....
Many banks hate Bitcoin and are feeling threatened by the new digital cryptocurrency. Coindesk recently wrote an article about Dutch Bank Rabobank. The context was the same as many articles before that have and have not made it to more major media outlets: Bitcoin businesses guillotined by banks around the world. Rabobank has blocked transfers of fiat to Bitcoin exchanges in the past for individuals, not just businesses. Rabobank even had days when all attempted online transfers to domestic Bitcoin Exchanges were met with a technical error. Two websites in the locality have since spread....