Banking

Ripple: It’s Time for a Blockchain Cross-Border Payment Network

Blockchain or distributed ledger technology (DLT) has yet to achieve widespread use, but it is mature enough to begin commercial use. Ripple, a DLT technology provider, believes the time is ripe for banks to work together to initiate a network for more efficient inter-bank and cross-border payments, according to a white paper [PDF] by Ripple…

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South Africa’s Banks Are Going DIY to Test Ethereum’s Blockchain

Members of six African banks reportedly met yesterday to discuss the next steps in their ongoing effort to connect aspects of the South African banking system via a private version of the ethereum blockchain, according to sources. Apparently the first use cases are syndicated loans and securities loans, which are currently run as over-the-counter operations.…

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Blockchain-based banking backend Vault OS from ex-Googler emerges from stealth mode

Despite holding the vast majority of the world’s wealth (or perhaps because of that), banks aren’t exactly hotbeds of cutting-edge tech, often relying on decades-old systems for everyday tasks. ThoughtMachine, a company led by ex-Google engineer Paul Taylor, is looking to change that with a modern, fully integrated, blockchain-based banking operating system called Vault OS.…

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