Uncomplicating processes: Blockchain has the potential to simplify banks
LONDON: A venture backed by eight major banks and financial institutions has begun beta testing a peer-to-peer network that aims to use blockchain distributed ledger technology to slash billions off the cost of processing foreign exchange transactions.
Fronted by ex-Citi and Deutsche Bank currencies supremo Andy Coyne, Cobalt DL's initiative is the latest to move forward with serious real world uses of a technology which promises to simplify banks’ unwieldy computer infrastructure.
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