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Joining a banking consortium (R3) or cross-sector consortium (Hyperledger project) with the aim of defining a de facto, interoperable standard with members of the consortium.
Investment in start-ups active in the blockchain field, either through venture capital subsidary companies or directly, with the aim of gaining expertise and/or consolidating a technological partnership.
Launch of a partnership with companies in the blockchain field (such as Ripple), to speed up knowledge acquisition and launch collaborative experiments.
Establishment of research labs/working groups for developing proprietary solutions in the blockchain field, such as money transfer platforms or private ledgers.
Using blockchain technology for enabling streamlined P2P payments circuits, transferring funds between different banks or defining new remittance services.
Exploiting the features of the blockchain for streamlining Finance processes, with regards to both how funds are transferred as well as how securities, commodities, and derivatives are cleared and settled.
Use of blockchain layers for certifying counterparties’ data (e.g. credit worthiness) in a shared environment – this allows for risk mitigation and cost saving on systemic scale.
Exploiting programmable money features embedded in blockchain platforms to provide targeted credit services for customers.
Property: a Blockchain accelerator manages the change of property ownership, in other words the transfer of ownership of any digital or physical asset (e.g. vehicles, equity, houses, etc.). Through the registration of a transaction in the Blockchain register, the identity of the seller and the buyer, the unique identifier of the asset and the time stamp associated with the transaction are guaranteed and cannot be modified.
Voting: in contexts that require a high level of transparency and security, such as voting in public ballots (e.g. to express a preference in a survey), the Blockchain technology relies on crypto currencies to guarantee both the legal certainty of the vote and the transparency of the process.
Ticketing: ticketing and couponing systems are highly complex. Furthermore, the risk of distributing counterfeit tickets is a major problem even for the more advanced and modern systems. Through the use of a web platform that exploits the specific features of Blockchain technology, it’s possible to create a secure and interoperable couponing/ticketing solution that still ensures the best possible end user experience.
Digital asset & Risk Management: decentralized information layers enable interoperable management for trading and post trading activities, which are typically related to financial assets lifecycle. In particular, Smart Bond maps a meaningful scenario in terms of process automation and dematerialization opportunities.
Today’s discussions have revolved around digitalisation and new technologies and how they might change the banking business of tomorrow.
Digital innovations in finance, loosely known as fintech, have garnered a great deal of attention across the financial industry. Distributed ledger technology (DLT) is one such innovation that has been cited as a means of transforming payment, clearing, and settlement (PCS) processes, including how funds are transferred and how securities, commodities, and derivatives are cleared and settled.
Britain's Royal Mint and leading U.S.-based derivatives exchange CME Group have teamed up to create a blockchain-based digital platform for dealing in gold in a drive to cut the costs involved in trading the precious metal.
Blockchain technology is currently generating almost exuberant enthusiasm among banks, enterprises and public bodies. New initiatives and cooperation agreements on blockchain applications are being announced in the financial press on a near daily basis. This is not limited solely to banks and private enterprises, but also encompasses projects by governments and central banks.
Financial innovation company R3 and ten of its consortium member banks have successfully developed a proof-of-concept for a Know Your Customer (KYC) registry that addresses the challenges associated with satisfying regulatory requirements and allows identities to be managed by their owners.
Visa Inc. today announced a preview of Visa B2B Connect, a new platform that Visa is developing to give financial institutions a simple, fast and secure way to process business-to-business payments globally.