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42 banks join Japanese Blockchain for payments consortium
SBI Ripple Asia, a joint venture between distributed ledger tech provider Ripple and SBI Holdings, announced in August that a Japanese consortium of 15 banks in a new network will use Ripple’s Blockchain for payments and settlement. It had anticipated about 30 member banks joining by March 2017, but it got plenty of responses from [...]
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Real-time payments: the race against time
The world seems to have got itself into a great big, tearing hurry. Consumers can send and receive e-mail across the globe in near-real-time. They can download a movie to watch immediately, or buy groceries online for delivery within one-hour slots. The payments industry is also engaged in its own race against time, which is [...]
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National payment switches: navigating the complexity for economic growth
A national payment switch has become a necessity for a cashless or ‘less cash’ society. The advantages of such a switch include boosting financial inclusion, stimulating innovation, competition, growth and economic prosperity. So, how does a market best implement a national payment switch? And how does it cope with the considerations and inevitable trade-offs? It [...]
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Carbanak look a like Trojan Odinaff targets SWIFT banks
A new Trojan dubbed Odinaff has been reported attacking banks and other financial targets worldwide. Odinaff attacks include the manipulation of embattled SWIFT logs and the extensive use of hack tools. According to Symantec, Odinaff shares a number of links with Carbanak, which is also known for attacking banks and believed to have stolen hundreds [...]
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Ripple signs global banks to blockchain-based money transfers
SWIFT, post hacking scandal, may have some competition as a number of major global banks have signed with Ripple Labs to found a new global transfer system based on Ripple’s blockchain platform. Founding members of the Global Payments Steering Group (GPSG) are Bank of America Merrill Lynch, Santander, UniCredit, Standard Chartered, Westpac Banking Corporation and [...]
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