- Blockchain technology will “absolutely” have a function in Landsec’s business, the CEO of the U.K.’s largest property firm told CNBC on Tuesday.
- When asked if blockchain technology would be used in this part of the business, Chief Executive Robert Noel replied in the affirmative.
- “Absolutely… If you look at the way what we provide, which is services to business, and those services are around contract, anything that speeds up archaic land law, and contract law, and leasing law, etcetera, will be welcomed,” Noel told CNBC in a TV interview.
- Blockchain is the underlying technology behind the cryptocurrency bitcoin.
- Blockchain is also called distributed ledger technology and refers to a method of decentralizing processes.
Blockchain or distributed ledger technology could play a role in the contract process for Landsec.
Continue reading “Property firm behind one of London’s most iconic sites says blockchain will ‘absolutely’ have a role”
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A large cyberattack crippled computer systems at hospitals across England on Friday, with appointments canceled, phone lines down and patients turned away.
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- Business Day | Santander Says First UK Bank to Use Blockchain for Overseas Payments
- Metzger said unless all the banks are using the same technology then the “last mile” of its pilot using blockchain will use slower, existing payments links.
- The technology may eventually allow banks to settle the estimated annual $26 trillion of international transactions almost instantaneously.
- That compares with settlement times of days under the current systems used by banks. “
- In March, broker ICAP said it was the first to distribute data on trades to customers using blockchain.
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@JDComforte: “Santander Says First UK Bank to Use Blockchain for Overseas Payments #payments #blockchain”
Santander is the first British bank to start using the technology behind virtual currency Bitcoin for recording international payments, and may start rolling out the service to customers next year, the head of innovation at its UK arm said.Blockchain, or distributed ledger technology, creates a shared database in which participants can trace every transaction ever conducted. Its proponents say it has the potential to shake up how financial markets operate.Santander said about 6,000 staff in Britain would be eligible to begin using the technology internally in a pilot program that aims to make the transfer of money faster, more accurate and more transparent. The technology may eventually allow banks to settle the estimated annual $26 trillion of international transactions almost instantaneously. That compares with settlement times of days under the current systems used by banks.
Santander Says First UK Bank to Use Blockchain for Overseas Payments