R3 Blockchain Consortium Run Blockchain Tests with Chain, Ethereum, Eris Industries, IBM and Intel

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According to the Wall Street Journal, the R3 CEV Blockchain consortium completed its biggest test yet of online distributed ledger systems, the organization is due to announce Wednesday. Forty banks tested five Blockchain vendors and three cloud providers, to see how different combinations handled simulated transactions in commercial paper.

The consortium of the world’s biggest banks has completed their second known proof of concept experiment of Blockchain technology and with this time, trials spanned five different Blockchain solutions.

The five companies that worked on the trial included Chain, Ethereum, Eris Industries, IBM and Intel and the cloud infrastructure was provided by Amazon, IBM and Microsoft Corporation.

“This is the first time many ledgers have been run in parallel by many institutions in a rigorous, scientific way,” said Tim Grant, R3’s managing director and global head of its collaboration lab, in an interview with CIO Journal.

The tests pointed to areas CIOs should evaluate before choosing vendors, Mr. Grant said.

For example, some ledger architectures allow for more complex transactions than others, he said. “It’s not clear there’s a well-defined playbook in how to evaluate these technologies side by side. We want to help bring that clarity,” he said.

Next, R3 plans to conduct similar tests with the participation of government regulators and tests for integrating blockchains with banks’ legacy transaction systems, Mr. Grant said.

 

 

About Richard Kastelein

Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC. Kastelein is also an advisor with a number Blockchain startups doing ICOs including Humaniq.co where hs is interim CMO, DECENT.ch, Inchain, Chronobank, eGaas and others. He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List.

As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

He’s also a director of a Dutch foundation called The Hackitarians and has run innovation events in London, San Francisco, Berlin, Amsterdam and other cities around the world on topics such Blockchain, Health, Energy, Internet of Things, AI etc.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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  • little-lucy

    R3 or developers are also using bots on the polo exchange to pump Eth..
    Its only has volume on one exchange polo where they use api bots to set price,
    They dont pay commission to polo so easy to pump & dump the coin.
    the other small exchanges just follow the trend.

    everyone should get on this to make easy money from trading, they pump it for a long time to set new highs to generate press which is good for the coin. nice to get market volume. key is not to get greedy & get out before they top as they sell at the top & take profits. if you dont get on time they will dump it & you lose a lot of money.

    Bots control the price range, the volume is not real, the same bot sells back & forth moving the price up, you cant short it, the volume goes up showing huge market cap that was not real as the same bot is just selling eth back & forth to itself.

    if you try to short the bot just replenishes those coins within half a second,

    thats why charting rules dont apply, have you seen the eth chart? nothing like it.

    Manipulation at its best.

    it gets pumped without any corrections, there is 77 million coins in circulation most of that is owned by the same people so the higher they take the price the more they sell to the top..

    that’s why its only on one exchange so Manipulation is easy, if it was on any other big exchange with high Bitcoin volume it wouldn’t be manipulated so easily.

    i actually agree with the developers not allowing the shorting on margin calls as if they didnt stop the shorts price would be lees than a 1$,

    its not fair to short the life out of something using margin when there is no demand yet, so you created the demand., as nobody knows about the coin, there is no real demand, the only way to create the volume & demand is to show people how much money they could make out of this in the next pump…

    its a much faster way to get market share creating fake volume showing a bullish trend to suck people in. its a ponzi but not a long term one just short term to get more genuine volume, pumping to get it noticed.

    you can see this for yourself on polo the only exchange with the volume, easy to see in the order book & you already noticed it.

    This tech has a great future they just want to make it happen faster using the price to get publicity which is working & i personally like it.

    if you can speed up the mass adoption using manipulation you should do it, happens in every market.

    take the bull by the horns & drag it up, why not…

  • Swapster_com

    Any results to compare the platforms?