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Tech

Two of Blockchain’s Biggest Consortiums Just Joined Forces

“Announced Monday, the Hyperledger Project and the Enterprise Ethereum Alliance (EEA) have agreed to collaborate on bringing common standards to the blockchain space and cross-pollinate a wider open-source community. This joining of forces is notable as EEA and Hyperledger represent two of the three largest and arguably most influential enterprise blockchain communities, the third being the […]
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Tech

$80 Billion Banco Santander Uses Ripple For Payments, Will Many Banks Follow?

“The strategic partnership between Ripple Labs and Santander was announced in March of 2018, but at the time, the intricacies of the collaborative work between the two companies were not disclosed to the public. Since March, the Ripple team explained in an official statement that Santander has been experimenting with RippleNet and other liquidity products available on its […]
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Tech

JPMorgan widens blockchain payments to more than 75 banks

“The idea is that a mutually-accessible ledger across banks would allow them to quickly resolve issues such as compliance checks, faulty addresses or missing data, which can lead to payments being held up for weeks.  The banks expect to put about 14,500 US dollar-denominated payments a day through the enlarged network.”
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Tech

Austrian government notarizes EUR1.15bn bond auction using blockchain

“The Austrian government has enlisted Oesterreichische Kontrollbank (OeKB) to notarize the auction of a EUR1.15 billion government bond using the ethereum blockchain. Local bank OeKB will deploy the notarization service to authenticate transaction data and then store it on the blockchain. Blockchain-based data notarization involves using an encryption method for documents to derive a unique electronic fingerprint, […]
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Deals

Blockchain Startup Algorand Bags $62M, Hires Fuze & LogMeIn Execs

“Algorand aims to solve some of the technological drawbacks of Bitcoin and other popular digital currencies, including their use of massive amounts of computing resources and electricity, high transaction costs, and criticisms that the networks aren’t as decentralized as they’re purported to be.”
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Systems

TransferWise Won’t Buy Into Blockchain Until More Banks Use Ripple

“Part of the problem is that blockchain technology has not yet achieved enough adoption among banks to make it more efficient than the prevailing payments systems. And as fintech companies find new and less expensive ways to transfer money, the bar that blockchain technology must clear to make it worth switching to has gotten higher.”
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Companies

Ripple Is Aiming to Overtake Swift Banking Network, CEO Says

“Ripple Labs says it has more than 100 banks and payment providers on its RippleNet network, including Japan’s Mitsubishi UFJ Financial Group Inc. and Standard Chartered Plc, according to its website. Garlinghouse also said that speculation within the blockchain industry of a potential link-up between Ripple and Swift wasn’t true.”
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Tech

German central bank sees positive results from blockchain settlement trials

“Developed over a two-year period, the prototypes functioned as a sandbox for testing blockchain-based securities settlement including the full lifecycle of bond issuance, settlement, corporate actions, redemption as well as cash transfer including provisioning of digital coins, transfer between market participants and settlement of cash payments.”
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Tech

Italian banks’ blockchain project picks up pace

“As reported in October, 14 banks passed the first phase with the help of ABI Lab, the technological laboratory supported by the Italian Banking Association (ABI). This followed on from June when they said this new tech will be applied to interbank processes to increase data transparency and visibility, speed in executing transactions, and allowing checks and exchanges […]