Reuters has reported that Fidelity is the first asset manager to join the organisation. Fidelity Labs will join the team which includes Cornell University, University of California at Berkeley, IBM Corp and Intel Corp.
The Boston-based fund manager will collaborate with the group to develop blockchain programs to help make financial systems more efficient and secure.
Blockchain, which first emerged as the system underpinning cryptocurrency bitcoin, is a distributed record of transactions that is maintained by a network of computers, rather than a centralized authority.
Over the past two years, financial institutions have been ramping up their investments in the technology in the hopes that it can help the make some of its processes simpler and cheaper. Potential use cases range from systems to manage international payments, to programs to settle securities trades.
- eToro Acquires Smart Contract Infrastructure Provider Firmo - March 25, 2019
- UPS to work with Blockchain Company Inxeption - March 25, 2019
- Kik’s Kin Cuts Deal with MadLipz and its 40m Short Form Video Creators - March 21, 2019
- Former Prime Minister of Denmark Joins Blockchain Identity Project Concordium as Strategic Advisor - March 20, 2019
- US National Pork Board and RIPE.IO Partner to Improve Sustainability, Quality, Traceability, Waste and Fraud in the Industry - March 20, 2019
- Sumner Global Launches $100M Securitized Token Offering (STO) in Middle East - March 20, 2019
- Editorial: The Rumours of ICOs’ Death Have Been Greatly Exaggerated - March 18, 2019
- French NCC Deploy IBM Blockchain For Commercial and Corporate Registries - March 15, 2019
- Bcause, To Launch Full-stack Cryptocurrency Ecosystem On Nasdaq - March 13, 2019
- SEC – Ethereum is Not a Security - March 13, 2019
- US Treasury Sanctions One of Russia’s Biggest Commercial Banks Over Backing of Venezuela’s Cryptocurrency, Petro - March 13, 2019
- Fetch.AI Solves ‘Blockchain Trilemma’ with Novel Approach to Reaching Consensus - March 13, 2019
- Boerse Stuttgart Group Cut Deal with solarisBank to Develop Crypto Trading Platform - March 12, 2019
- ECCU Plans to Issue World’s First Blockchain-Based Central Bank Digital Currency in the Caribbean - March 12, 2019
- Blockchain Video Company Linius Connects Prototype to Blockchain-Centric Video Player - March 12, 2019
- Emaar, One of the World’s Largest Property Companies, Plans Loyalty and Referral Token - March 11, 2019
- European Commission Offering 32 Blockchain Startups €200.000 Equity-Free Cash for Citizen Data Control Decentralised Solutions - March 11, 2019
- One of World’s Largest Asset Managers ($2.46 trillion) Fidelity, Launches Bitcoin Service - March 11, 2019
- eToro Officially Launches Crypto Trading Platform & Wallet in the U.S. - March 7, 2019
- Smilo Platform Launches Mainnet – Decentralized, GDPR compliant, Hybrid, Multipurpose - March 7, 2019