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.
“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.
- European Commission Releases New Support Paper on Blockchain – Further Funding for Startups Encouraged - September 19, 2019
- Bitpay Opens Up Doors For Ethereum Payments - September 16, 2019
- Neufund Launches Blockchain-Driven Equity Token Sale for Retail Investors Out of Lichtenstein - September 16, 2019
- London Blockchain Accelerator Academy Looking for Partners - September 13, 2019
- Blockchain Startup Blockstack Raises a Whopping $23 Million In SEC-Qualified Reg A+ Token Offering - September 12, 2019
- France Vows to Block Facebook Libra Cryptocurrency in Europe - September 12, 2019
- R3 and Mastercard Team Up Mastercard to Build Overseas Payments System Build on Blockchain - September 12, 2019
- ConsenSys Officially Joins Hyperledger Project – Adding Public Blockchain Capability to Hyperledger - September 11, 2019
- Telegram Open Network Labs Releases Development Suite for TON Blockchain - September 11, 2019
- Whale Alert: USD One Billion+ BTC Was Transferred in One Transaction Last Week - September 11, 2019
- New Professional API Trading Program AlgoX Prime API Launched by eToroX - September 11, 2019
- Bitcoin.com’s Roger Ver Steps in to Operate Node on Cryptographer David Chaum’s New Elixxer Project - September 11, 2019
- Seychelles Heats Up With a First for a National Stock Exchange – MERJ Exchange Goes Live with Tokenized IPO - September 10, 2019
- Computing Legend Steve Wozniak To Launch Blockchain Energy Project – EFFORCE - September 10, 2019
- Hollywood Star Wesley Snipes To Tokenize $25 Million USD Movie Fund with Liechtenstein Blockchain Innovator LCX - September 9, 2019
- Netki Extends TransactID Solution For FATF “Travel Rule” Compliance - September 9, 2019
- Market Demand For Sophisticated Crypto Trading Methods Drives Singapore’s Broctagon Fintech Group To New Heights – Pushing Them Past $5 million - September 5, 2019
- London-based Custodian For Digital Assets, Copper, Reach $500m In Transactions In Just Three Months - September 5, 2019
- UN Meeting: Gibraltar Lawyers Call For A Global Regulatory Framework For Cryptocurrencies - September 4, 2019
- Michael Terpin’s BitAngels Investor Network Partners with Bitcoin Bay to Expand Blockchain Investment Ecosystem in Toronto, Canada - September 3, 2019