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.

 

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About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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