Blockchain start-ups pair up on currency processing platform

  • “We’ve worked with a different (blockchain platform), but we didn’t think it was fit for purpose for a market the size of FX.
  • The current foreign exchange market requires multiple records to be created for buyer, seller, broker, clearer and third parties in currency trades, and then reconciliation across multiple systems.
  • LONDON (Reuters) – Two London-based start-ups have joined forces on a platform to process currency trades with blockchain technology, in an effort to cut settlement times and costs in the $5 trillion-a-day (4.10 trillion pounds) global foreign exchange market.
  • Blockchain, which originated in the digital currency bitcoin, works as a web-based transaction-processing and settlement system.
  • Like Cobalt DL, SETL is also run by heavyweights from the world of finance, rather than pure technologists.

By Jemima Kelly LONDON (Reuters) – Two London-based start-ups have joined forces on a platform to process currency trades with blockchain technology, in an effort to cut settlement times and costs in the $5 trillion-a-day (4.10 trillion pounds) global foreign exchange market. Cobalt DL, fronted by
Continue reading “Blockchain start-ups pair up on currency processing platform”

European banks risk lagging Wall Street in blockchain race

#European #banks risk lagging #WallStreet in #blockchain race:

  • LONDON (Reuters) – The blockchain technology behind bitcoin was designed to do away with banks.
  • In an ironic reverse, investment banks are now racing to make it work for them – but cash-strapped European players risk falling behind their Wall Street rivals.
  • “There are some banks – Goldman Sachs being the epitome of this – that …
  • The six global banks approached by Reuters for this story – in the United States and Europe – declined to say how much they had spent.
  • A survey of 200 top global banks by tech firm IBM last month found that 15 percent will have rolled out commercial blockchain products by the end of 2017.

The blockchain technology behind bitcoin was designed to do away with banks. In an ironic reverse, investment banks are now racing to make it work for them – but cash-strapped European players risk falling behind their Wall Street rivals. Blockchain was developed eight years ago, enabling transactions
Continue reading “European banks risk lagging Wall Street in blockchain race”

Exclusive: Blockchain platform developed by banks to be open-source

Exclusive: #blockchain platform developed by banks to be open - source #tech #news

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By Jemima Kelly LONDON (Reuters) – A blockchain platform developed by a group that includes more than 70 of the world’s biggest financial institutions is making its code publicly available, in what could become the industry standard for the nascent technology. The Corda platform has been developed
Continue reading “Exclusive: Blockchain platform developed by banks to be open-source”

European banks risk lagging Wall Street in blockchain race

  • In an ironic reverse, investment banks are now racing to make it work for them – but cash-strapped European players risk falling behind their Wall Street rivals.
  • * The technology originally designed to remove need for banks
  • “There are some banks – Goldman Sachs being the epitome of this – that …
  • LONDON, Oct 19 (Reuters) – The blockchain technology behind bitcoin was designed to do away with banks.
  • A survey of 200 top global banks by tech firm IBM last month found that 15 percent will have rolled out commercial blockchain products by the end of 2017.

The blockchain technology behind bitcoin was designed to do away with banks. In an ironic reverse, investment banks are now racing to make it work for them – but cash-strapped European players risk falling behind their Wall Street rivals. Blockchain was developed eight years ago, enabling transactions
Continue reading “European banks risk lagging Wall Street in blockchain race”

European banks risk lagging Wall Street in blockchain race

  • New Delhi [India], Oct. 18 (ANI): A high level delegation led by United States Trade representative Michael Froman will attend the 10th India-United States Trade Policy Forum (TPF) meetings scheduled from October 19 to 20 at the national capital.
  • New Delhi [India], Oct 19 (ANI): The jewelry industry in India is emerging on a grand scale.
  • New Delhi [India], Oct. 18 (ANI): External Affairs Minister (EAM) Sushma Swaraj called on Myanmar State Counsellor Aung San Suu Kyi on Tuesday and offered all possible assistance from India in keeping with latter’s priorities.
  • New Delhi [India], Oct. 19 (ANI): Accusing the Bharatiya Janata Party (BJP) of using the Ram Temple issue to siphon off a victory in the upcoming Uttar Pradesh polls, Nationalist Congress Party general secretary Tariq Anwar on Wednesday said the BJP has taken up the Ram temple issue because they have no other issues to talk about. “
  • New Delhi [India], Oct. 19 (ANI): Bollywood megastar Amitabh Bachchan recently went vocal with his thoughts on the cynical take of some people on India’s big win against Argentina in kabbadi at the World Cup.

By Jemima Kelly and Anjuli Davies LONDON (Reuters) – The blockchain technology behind bitcoin was designed to do away with banks. In an ironic reverse, investment banks are now racing to make it work for them – but cash-strapped European players risk falling behind their Wall Street rivals. Blockchain
Continue reading “European banks risk lagging Wall Street in blockchain race”

European banks risk lagging Wall Street in blockchain race

  • In an ironic reverse, investment banks are now racing to make it work for them – but cash-strapped European players risk falling behind their Wall Street rivals.
  • LONDON (Reuters) – The blockchain technology behind bitcoin was designed to do away with banks.
  • “There are some banks – Goldman Sachs being the epitome of this – that …
  • A survey of 200 top global banks by tech firm IBM last month found that 15 percent will have rolled out commercial blockchain products by the end of 2017.
  • The six global banks approached by Reuters for this story – in the United States and Europe – declined to say how much they had spent.

The blockchain technology behind bitcoin was designed to do away with banks. In an ironic reverse, investment banks are now racing to make it work for them – but cash-strapped European players risk falling behind their Wall Street rivals. Blockchain was developed eight years ago, enabling transactions
Continue reading “European banks risk lagging Wall Street in blockchain race”