ABN Amro Joins R3 Blockchain Consortium
ABN Amro has become the latest financial institution to join the R3 blockchain consortium. The Dutch bank is an investor in blockchain startup Digital Asset Holdings and is working with local academics on applications of the technology. The bank has also been doing internal work of its own, leading to speculation earlier this fall that it was developing a bitcoin wallet. As an R3 member, the bank said that it expected to build on its past efforts. Arjan van Os, chief of ABN AMRO’s Innovation Centre, said in a statement: “This is exactly the right time for us to step in. We already spend a....
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Writing on the bank's official website, ABN AMRO Head of Innovation Arjan van Os, praises the blockchain technology behind Bitcoin in an article titled "The Next Big Thing." Dutch state-owned ABN AMRO Bank is a product of a long history of mergers and acquisitions that date to 1765, making it one of the oldest active banks. In 2007, ABN AMRO was the second-largest bank in the Netherlands and the eighth largest in Europe by assets. Then the bank was acquired by a consortium of international banks and eventually bailed out and nationalized by the Dutch government, which expressed intentions....
ABN Amro has begun a new blockchain pilot focused on real estate transactions. The Dutch bank said yesterday that it is working with IBM to develop a system in which buyers, sellers, brokers and regulators (among other parties) can share and record real estate transactions. According to ABN Amro, the proposed system would support connectivity with regulators such as the country's central bank and the Land Registry Office. In its announcement, ABN Amro suggested that the pilot could ultimately lead to new kinds of client-facing services. The bank said in a statement: “This latest pilot is....
Contrary to speculation and discussion from earlier today, Dutch banking giant ABN AMRO is not working on or releasing a bitcoin wallet to its customers as a part of its banking services. Social media was abuzz with speculation that a bitcoin wallet might be in the offing by ABN AMRO , a major European bank with a global presence, based in Netherlands. A webpage surfaced, purporting to conduct a survey among ABN AMRO customers by the bank’s Innovation Centre. It stated: From the Innovation Centre of ABN AMRO, we follow the development of bitcoin closely. At present, we examine whether the....
For ABN Amro’s director of transaction banking, the company’s strategy on blockchain tech can be best described with a restaurant analogy. If you were looking to enter the business, Karin Kersten argues, you might first invest in a restaurant. Next, you might try to get a feel for the workflow, washing dishes and observing existing staff. It's then, she said, that you might be ready to enter the kitchen. It’s that final last stage that Kersten contends is most indicative of the activity at the Dutch bank, which boasts more than 22,000 employees across business lines including retail,....
A prominent bank in the Netherlands is working with a local university to develop a series of blockchain prototypes. ABN Amro, which is a member of the Linux Foundation-led Hyperledger project and an investor in blockchain startup Digital Asset Holdings, has announced a collaboration with the Delft University of Technology, based in South Holland. The two institutions will jointly develop applications within TU Delft's blockchain laboratory. The goal, they said, was to create systems "that can deal reliably and appropriately with large amounts of data and large numbers of users",....