Dutch Banking Giant ING Conducts 27 Blockchain Proof Of Concepts
ING’s blockchain innovation team spent 2016 experimenting with blockchain technology and plans to focus on more proofs of concept in 2017, the company noted on its website. Mariana Gomes de la Villa, ING’s blockchain senior program manager, and her Amsterdam-based blockchain innovation team have taken on the task of determining blockchain applications that add value to ING’s financial institution ecosystem. 2016: 27 Proofs Of Concept. 2016 was a year of experimentation, Gomes de la Villa said, noting the technology was not created for the financial industry. It has constraints and does not....
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Researchers at a UK innovation lab operated by Swiss banking giant UBS are developing a blockchain implementation for settling transactions. As reported by Financial News, the lab, opened earlier this year, is currently at work on a cryptocurrency that would be "linked to real-world currencies and connected to central bank accounts". The project is being undertaken in collaboration with blockchain startup Clearmatics. UBS is reportedly also working with BNY Mellon on other blockchain-related initiatives. BNY Mellon disclosed earlier this year that it had been developing an internal rewards....
The Blockchain. In an article appearing on the Startup Management website, author William Mougayar argues that the blockchain technology might radically change the way software engineers develop applications in the future. According to Mr. Mougayar, the technology behind the blockchain represents a completely different paradigm in software design. Five concepts come into play that would enable the new computing paradigm. They are the blockchain, decentralized consensus, trusted computing, smart contracts and proof-of-work/stake. These concepts will play a decisive role in developing the....
According to an announcement made by Delft University of Technology (TU Delft) and Dutch banking giant ABN AMRO have partnered in order to develop new, more complex blockchain applications, with a goal of delivering a new safe and reliable application in only six months – a very short amount of time. ABN AMRO staff will attend blockchain application courses at Delft University of Technology’s Blockchain Lab in order for them to develop their knowledge, strengthening the bank’s commitment to blockchain development. The application the partnership wants to release in six months will be based....
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....