R3: Blockchain test successfully terminated with 11 banks

The blockchain startup R3CEV has its own specifications following a first blockchain test with 11 banks successfully completed. The consortium already has more than 40 banks. The first publicly announced test will be attended by Barclays, BMO Financial Group, Credit Suisse, Commonwealth Bank of Australia, HSBC, Natixis, Royal Bank of Scotland, TD Bank, UBS, UniCredit and Wells Fargo.

CEO David Rutter said: "The transition from a vision to a real application signals an important step in the use of technology. The current way in which companies interact, report and act is thus completely transformed. This is an interesting development for R3, our partner banks as well as the financial services industry as a whole. "

R3CEV has already announced further tests with its partner banks. Last autumn only the company reported on the first partnership. In the meantime 42 well-known banks belong to the consortium. "The blockchain technology is an emerging focus for Credit Suisse. As one of the early R3 participants, we are proud to be a part of the consortium, Technology, "said Stephan Hug of Credit Suisse.

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English version of Stan Higgins via CoinDesk