Bryan Glick: RBS to pilot product based on blockchain technology in 2016

Computerweekly.com Editor in chief Bryan Glick was in Singapore to cover the Sibos financial services conference.

Royal Bank of Scotland (RBS) is aiming to pilot a service based on blockchain technology in 2016. The move would make RBS one of the first major banks to offer a product based on the emerging technology that many experts predict will radically disrupt the way the banking sector operates.

RBS would not provide details of the likely service due to the commercial sensitivity of the project, but John Lyons, head of strategy and commercial services for RBS’s payments business suggested it is “on the fringes of payments” and said the bank would be ready to demonstrate the technology in early 2016.

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