27 Financial Firms Form Korean Blockchain Consortium
A new blockchain consortium has been formed in South Korea, with both established finance firms and technology startups on its membership roster. According to one of the group's members – blockchain startup The Loop – the new initiative will focus some of its efforts on building tools for managing trade finance processes. The firm said in a statement: “Beyond providing [the] blockchain-based authentication and information sharing system, we collaborate with other technology providers on developing a prototype for financial services in areas of securities trade and post trade, the prototype....
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A group of 21 financial investment companies and five blockchain technology firms have signed a memorandum-of-understanding (MoU) to develop distributed ledger solutions as a blockchain consortium. Announced yesterday, the blockchain consortium is led by the Korea Financial Investment Association and sees a number of financial institutions and Fintech firms collaborate to form a blockchain think tank for the Korean capital market. According to Business Korea, the IT Committee of the association will be sharing its blockchain case studies and results of its technical research with the....
The R3 blockchain consortium continues to attract attention in the financial world, as they have welcomed their first Chinese member in the form of Ping An Group. This partnership has nothing to do with the consortium seeking US$200m in additional funding, though. In a rather surprising turn of events, the R3 blockchain consortium added its first Chinese....
Russian banks and financial services firms have come together to form the country’s first financial blockchain consortium, a coalition that will seek to explore and implement blockchain solutions in the banking and financial services industries. Announced at the beginning of the month, Russia’s first ever blockchain consortium will see various prominent banks and notable financial and professional services firm Accenture, come together to form a private-sector coalition. Initial whispers of the establishment of a blockchain consortium in Russia arose in early June 2016, with Russian....
The Korean financial institution, Hana Financial Group has joined the R3 consortium to include blockchain technology into its operations. Financial institutions across the world have started showing interest in the use of blockchain technology for banking and financial sector. One of the leading companies in the forefront of this new technology adoption is R3. The New York-based fintech startup working on blockchain based fintech solutions has created a group of over 40 international banking institutions to create a custom Ethereum-based cross border blockchain solutions for them. This....
Chinese financial services firm Ping An Bank and a subsidiary of QQ instant message app maker Tencent are among more than 30 technology and financial firms in China that have formed a new consortium dedicated to blockchain tech. The Financial Blockchain Shenzhen Consortium was officially launched on 31st May during an event in Shenzhen, a development that marks the latest business alliance to collectively explore applications of the technology. Ping An itself is a member of the R3-led consortium of global financial institutions, and in the past year and a half, working organizations have....