Absa Bank (Absa), the South
African subsidiary of the Barclays Africa Group (Barclays Africa), has become
the first bank in Africa to join R3’s consortium aiming to design and apply
distributed and shared ledger-inspired technologies to global financial
R3 has announced that
it is leading a group investigating the development of master templates for
smart contracts that can be used on “blockchain-inspired” platforms.
Following the R3 Smart Contract Templates Summits in London and New York in
late June, ...
Thomson Reuters has joined R3’s partnership to design and
apply distributed and shared ledger-inspired technologies to global financial
“Thomson Reuters will contribute insights from its work with
customers to drive product innovation and transformation in the financial
R3 and 15 member banks of its consortium have completed two distributed
ledger prototypes that it claims prove the usefulness of the technology in
addressing USD FX trading issues.
The banks designed and utilised self-executing transaction
agreements – so-called smart contracts -on ...
R3 has established a foothold in China
BM&FBovespa is the latest financial services firm to join the R3 partnership that aims to design and apply distributed and shared ledger-inspired technologies to global financial markets.
The exchange group will join over 60 other financial institutions in the consortium, where it will collaborate on research, experimentation, design and engineering to help develop distributed ledger technology that meets the financial and capital markets requirements for identity, privacy, security, scalability, interoperability and integration with legacy systems.
Consortium members work closely with R3 to develop Corda, its shared ledger platform specifically designed to record, manage and synchronise financial agreements between regulated financial institutions.
R3 and Axoni, along with seven buy and sell side firms, are working to explore ways that blockchain technology can be used to simplify reference data processes.
The group, which includes Alliance Bernstein, Citi, Credit Suisse and HSBC, recently completed a multi-month proof of concept (PoC) exercise aimed at building a distributed ledger prototype that can enhance the risk management, cost and efficiency issues inherent in managing financial reference data.
The prototype was created using Axoni Core, the firm’s proprietary distributed ledger software, to simulate the collaborative management of reference data, as well as the use of that reference data for corporate bond issuance.
The technology is designed to enable participants to interact with reference data after issuance, with any proposed changes requiring validation by the underwriter to ensure the ledger provided a single, immutable record of all data related to the bond.
Antony Lewis has taken a job as a director in R3 CEV’s lab and research centre in Singapore.
Prior to this new role, Lewis was working as a consultant, focused on helping financial services firms understand fintech, blockchains and distributed ledgers.
Between 2013 and 2015 he was part of a venture capital funded bitcoin startup, itBit, working as an institutional client group director.
Before that, he spent four years at Credit Suisse, working initially as an FX business analyst in London and then later as an FX technology project manager in Singapore.
It's nice to know that P&L's managing editor is not the only one who needs to get stuff off his chest, deputy editor Galen Stops has real blockchain fatigue, and it's hard not to agree with him. Is blockchain a solution looking for a problem? Well not exactly, it's a fascinating development that is probably going to have a long and lasting impact on the financial services industry, but just for now, can't we just talk about something else until something tangible happens?