Irish Fund Managers Complete Blockchain Data Reporting Trial
An investment industry trade group based in Ireland has completed a blockchain proof-of-concept aimed at streamlining regulatory reporting. Irish Funds announced the end of the trial today, conducted at Deloitte's Dublin-based blockchain lab. The test, which began early last month, featured Deutsche Bank, Metzler, Northern Trust and State Street as participants. Dubbed "RegChain", the pilot utilized technology from ethereum and the InterPlanetary File System (IPFS) to track and analyze transactions, then organize the data into completed financial statements to then be viewed by....
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A trade group for investment funds in Ireland has announced it is developing a new blockchain proof-of-concept focused on regulatory reporting. The Irish Funds Industry Association, which counts more than 100 banks, fund administrators, advisories and law firms among its membership, said today that it will explore the development of a platform on which both institutions and regulators can oversee relevant data. Active participants cited in the announcement include fund managers Metzler, Northern Trust and State Street. Irish Funds CEO Pat Lardner cited the need for more robust reporting....
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,....
One of Ireland’s “Big Four” banks has recently completed a blockchain trial centered on trade reporting. The Bank of Ireland used a blockchain as a vehicle for creating visibility into client trading activities, working in partnership with professional services firm Deloitte. Framing the experiment through the lens of regulatory compliance, the Bank of Ireland said that the project showed the potential to cut compliance costs while increasing transparency. The bank pulled data from a number of its internal systems for the test, explaining in a press release: “The trial combined synthesized....
According to the most recent Bank of America Global Fund Manager Survey, “long bitcoin” is currently the second most popular trade. Furthermore, the majority of investment managers feel Bitcoin is a speculative bubble and agree with the Fed that inflation is just temporary. Fund Managers Believe Bitcoin Is In a bubble This week, Bank of […]
A new report from JPMorgan Chase and consultancy firm Oliver Wyman argues that blockchain technology presents an opportunity for asset managers. The report, released on 13th July, seeks to position the emerging technology as a means for asset managers to offer more sophisticated services to clients. It offers a broad overview, ultimately arguing the industry sector needs to "get off the sidelines" and begin investigating how they can adopt the technology. The report states: "Revenue opportunities will grow out of the improved data sources, greater liquidity and lower....