Wall Street banks complete blockchain test programme

The prospect of blockchain technology playing a key role in financial services moved a step closer to reality earlier this week after banks including Goldman Sachs and JPMorgan successfully completed a six-month test programme in the $2.8 trillion equity swaps market. The programme was managed by New York-based blockchain start-up Axoni, and used its AxCore »

Canada to use blockchain for digital identification

In the first half of 2018, consumers in Canada will be able to sign up for a new digital-identity system developed by Toronto-based identity and authentication provider SecureKey Technologies Inc. The system is underpinned by IBM Corp.’s blockchain technology, and according to Greg Wolfond, CEO of SecureKey, consumers will be able to instantly prove who »

R3 and ACORD create centre of excellence

R3, a consortium of more than 80 financial firms and regulators that have pooled resources to develop Blockchain technology, has partnered with the Association for Cooperative Operations Research and Development (ACORD) to create a virtual centre of excellence for distributed ledger technology in the insurance sector. The R3 consortium counts a number of insurance companies »

Who Owns Blockchain? Goldman, BofA Amass Patents for Coming Wars

Who Owns Blockchain? Goldman, BofA Amass Patents for Coming Wars

Recently, some of the biggest names in business, from Goldman Sachs to Bank of America and Mastercard, have quietly patented some of the most promising blockchain technologies for themselves. Through mid-November, the number of patents that companies have obtained or said they’ve applied for has roughly doubled since the start of the year, according to law »

Fintech Firm Could Help Unravel Mysteries Behind Flash Crashes

Citigroup Inc. is investing in a technology that, if widely adopted, could help get to the bottom of sudden market spasms. The world’s largest currency trader is backing Cobalt DL, which aims to use a distributed ledger to create a single trade record that would replace existing fragmented systems. Best known for the blockchain that »


Singapore to Test Digital Currency in Latest Fintech Initiative

The “proof-of-concept” project, which also involves the city’s stock exchange and eight banks, is aimed at simplifying the payments process and reducing transaction costs, Managing Director Ravi Menon said in a speech Wednesday. It may include cross-border transactions with the participation of another central bank in the future, he said. “Today, banks have to go »

Ryan Smith, CTO of Chain, will be speaking at the QA Financial Forum New York.

Chain releases open source platform for distributed ledger

Chain, the California-based blockchain technology provider, has released Chain Core Developer Edition, an open source version of its distributed ledger platform. Chain Core allows developers to test their blockchain prototypes on a test network (testnet) operated by Chain, Microsoft, and the Initiative for Cryptocurrencies and Contracts (IC3), a collaboration of Cornell University, Cornell Tech, U... »

Blockchain Hype Takes Hit as Chain Releases Code for All to Use

Chain, the San Francisco-based startup that’s working with Visa Inc. and has made a presentation on the benefits of blockchain to Federal Reserve Chair Janet Yellen, just released to the public the 30,000 lines of open-source code that make up its Core Developer Series. Software developers, engineers, traders and executives can now build and test »

News round-up: RBS and Bank of America launch Blockchain projects

The RBS innovation engineering team has built an ethereum-based platform as a prototype for a national payments system. The project is called Emerald, and it is set up as a Deferred Net Settlement (DNS) system in order to explore the limitations of the technology. RBS said that it had modified the underlying Ethereum platform in »

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