Blockchain


IBM launches blockchain ecosystem on Hyperledger Fabric

IBM has unveiled a blockchain ecosystem “to help accelerate the creation of blockchain networks”. The programme “is designed for innovators looking to build real networks – venture capitalists, start-ups, systems integrators, independent software vendors and enterprise developers”.

Top fintech stories this week – 18 November 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! FNZ to build new BPO centre EXCLUSIVE. For Société Générale’s private banking business Mizuho Bank gears up for new core banking system go-live Keen to modernise after large-scale system failures in 2011. Big three explore blockchain for consumer […]

Stellar offers sponsorship for fintech start-ups

Stellar Development Foundation is offering sponsorships for fintech start-ups, and those who educate developers or represent an NGO. Sponsorship is available in the forms of “lumens” – Stellar’s unit of digital currency, similar to a Bitcoin. The firm says its goal is to support new products and ideas, and for those enabling that goal via […]

R3 and ten member banks develop KYC service proof-of-concept

The R3 consortium and ten of its member banks have developed a proof-of-concept (PoC) for a know your customer (KYC) registry “that addresses the challenges associated with satisfying KYC requirements and allows identities to be managed by their owners”.

Blockchain is not just for banking… insurance wants it too

There has been a tremendous amount of excitement and discussion about the potential of blockchain technology to transform the financial services industry and beyond. But the only thing that is clear at the moment is that there is still a lot of work to be done to implement wide scale use cases, clear up any regulatory uncertainly or barriers and educate institutions and employees about the technology and its potential.

Testing environment for Bitcoin exchanges

Amidst tightening regulations, the latest hack of the Bitfinex Bitcoin exchange has highlighted ongoing difficulties for the sector. Bourn Collier, associate, and Oliver Yaros, senior associate at Mayer Brown International LLP, explore. A few years ago media reports in Britain drew attention to the unfortunate plight of James Howells, a Welsh IT worker who had […]

Top fintech stories this week – 4 November 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Weatherbys Bank live with new core banking system EXCLUSIVE. Oracle FSS’s Flexcube flexes its muscles. Mobile payments and European millennials Vocalink reveals millennials’ habits and perceptions. Japan rises to blockchain challenge with new consortium Launches with 42 member […]

Payments and blockchain: Pilotville

The payments industry went just a bit blockchain bonkers at this year’s Sibos. Distributed ledger technology (DLT) was a hot topic throughout the week. This was quite astounding given there are very few examples of working blockchain or DLT use cases; most of the initiatives under way are proofs of concept.

MasterCard unveils new blockchain

MasterCard has unveiled its own blockchain as it reacts to arch-rival Visa’s partnership with Chain and seeks to use the technology in payments and trade finance. Its version is currently at the testing stage and offers the usual things in this corner of the fintech world. These include smart contracts – scriptable transactions that automate […]

Brave new Bitcoin for Tullett Prebon

Tullett Prebon Information (TPI), a provider of real-time price information from the global OTC financial and commodity markets, has signed a deal with Brave New Coin (BNC) to distribute its digital currency data. TPI says this is the “first time such a comprehensive view of the entire digital currency landscape has been made available to […]

SETL blockchain powers Cobalt’s FX post trade

London-based blockchain firm SETL and Cobalt DL, a private peer-to-peer network, have teamed up to use SETL’s OpenCSD within the Cobalt FX post trade platform. The service is set to launch in 2017, with 15 institutional FX participants “already committed” to the service. Earlier this year, SETL unveiled the OpenCSD platform, its first commercial offering, […]

CBA and Wells Fargo in “world-first” interbank blockchain trade transaction

Commonwealth Bank of Australia (CBA), Wells Fargo and trading firm Brighann Cotton have completed the “first” global trade transaction between two banks using blockchain, smart contracts and the Internet of Things (IoT). The transaction involved a shipment of cotton from Texas to Qingdao, China, using a distributed ledger – Skuchain’s Brackets system – for all […]

R3 blockchain code goes open source

R3 has made its blockchain platform’s code publicly available as it seeks to make it an industry standard. The Corda platform has been developed by R3’s consortium, which comprises more than 60 financial institutions around the world (the latest addition is Synchrony Financial – the first credit card company to join the consortium). “We want […]

Payments round-up: 21 October 2016

Jargon defeated. Unnecessary words deleted. A brief payments round-up. LeFinance, a division of Beijing-based tech firm LeEco, has partnered with the Stellar Development Foundation for cross-border payments on the latter’s blockchain network. The deal means Stellar expands into China. LeFinance will also use Stellar’s network to monitor credits for usage across their various devices and […]

Top fintech stories this week – 21 October 2016

Catch up on Banking Technology’s top five fintech stories of the week – all in one place! Bank of Ireland in major tech revamp EXCLUSIVE. Accenture and Capgemini working on Project Omega. Trouble in the R3 paradise? Thinking about time and money. Millions at risk from India ATM hack Debit cards in danger due to […]

R3 and Ripple trial interbank cross-border payments

R3 and twelve of its blockchain consortium member banks have trialled Ripple’s Digital Asset XRP for interbank cross-border payments. Using XRP, Ripple says it can enable near real-time value exchange anywhere in the world, providing “liquidity on demand and reducing associated costs”. David Rutter, CEO of R3, says the prototype “paves the way for a […]

Blockchain & back office: a revolutionary change or not?

Blockchain has been hailed as a disruptive force capable of revolutionising the banking sector. While this may be the case to some extent, the impact may be overstated when it comes to wider back office operations, argues Paul Westgate, product manager at Linedata. In the clamour to proclaim blockchain, and those cryptocurrencies built on blockchain technology, […]

Trouble in the R3 paradise?

More than 60 of financial institutions around the world (including many top-tier banks) are involved in the R3 consortium, with considerable financial and resource commitments. The international consortium promises to build a common blockchain-based platform – called Corda – but the end-result is still a number of years away.

Blockchain.info gets hacked

Bitcoin wallet provider Blockchain.info has been the victim of a hack attack on its DNS servers. It experienced an outage for several hours while under attack, and Peter Smith, the CEO and co-founder, says its internal systems “alerted our infrastructure team who immediately began to assess the attack” but it “became clear the attackers gained […]

ISITC Europe and Oasis to define technical standards for blockchain

The International Securities Association for Institutional Trade Communication (ISITC) Europe and the Organisation for the Advancement of Structured Information Standards (Oasis) are to jointly define technical standards for blockchain/distributed ledger technology (DLT).

Infosys blockchain powers ICICI Bank and Emirates NBD trade finance ops

ICICI Bank and Emirates NBD say they have successfully executed the “first” banking transactions using blockchain in international trade finance in India and the UAE respectively. The development saw the exchange and authentication of remittance transaction messages as well as original international trade documents related to purchase orders, invoices, shipping and insurance, among others, electronically […]