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Why did JPMorgan leaves blockchain consortium R3?
The news that JPMorgan Chase left the R3 blockchain consortium speaks to the challenges ahead for any consortium whose aim is to get multiple financial institutions to agree on a shared technology set. “This just shows the experimental stage blockchain and distributed ledger technology is at right now,” observed Chris Skinner, chairman of the Financial Services Club, a [...]
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Blockchain in banking: disruptive threat or tool?
Blockchain could have widespread potential to disrupt financial intermediaries. This in-depth Morgan Stanley study suggests several misconceptions and identifies 10 hurdles to overcome to make blockchain a reality in banking. The opportunity is clear but the blue sky is too far off to impact its 2017/18e. The pot of gold? Higher efficiencies. It’s early days, but industry heavyweights are sponsoring a wide range [...]
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R3 conducts Blockchain trail with first 11 banks
R3 CEV is set to trial its first Blockchain experiment using Ethereum and Microsoft Azure’s Blockchain as a Service, and involving 11 of its member banks. The R3-managed private peer-to-peer distributed ledger connected Barclays, BMO Financial Group, Credit Suisse, Commonwealth Bank of Australia, HSBC, Natixis, Royal Bank of Scotland, TD Bank, UBS, UniCredit and Wells Fargo. Participants [...]
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R3 signs 5 more banks
BNP Paribas, Canadian Imperial Bank of Commerce, ING, MacQuarie and Wells Fargo are the latest major financial institutions to partner with distributed ledger startup R3 CEV. With the announcement, R3 brings the number of financial institutions participating in its stealth initiatives to 30, with other major names including Bank of America, BNY Mellon, Citi, HSBC [...]
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More top banks pile into R3 Blockchain initiative
Just week after Nine of the largest investment banks, including Goldman Sachs, JPMorgan and Credit Suisse, thirteen more top banks, including HSBC and Deutsche Bank, havebacked the consortium led by financial tech firm R3 that is working on a framework for using blockchain technology in markets. Nine other banks had already signed up to the initiative, which [...]
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