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National Bank of Canada, Raiffeisen Bank International participate in global tokenized collateral trial on R3’s Corda

Fintech company Ivno announced that it has successfully completed the world’s first global token trial on R3’s Corda. Hosted on Microsoft Azure, the trial saw 28 organizations, including Cobalt, DBS Bank, Raiffeisen Bank International, Itaú Unibanco, and the National Bank of Canada, create $18 billion worth denominated “Trial Tokens” and transfer them in the Ivno network. Crème de la crème of fintech participates in global tokenized collateral trial Instant settlements between large legal entities such as banks and exchanges could become a reality, thanks to a successful trial conducted by fintech company Ivno. In a press release shared with CryptoSlate, the London-based company said it has completed the first global token trial on R3‘s Corda platform. The open-source blockchain platform was hosted on Microsoft Azure, enabling 28 different legal entities and organizations to participate in the trial. SBI R3 Japan, Raiffeisen Bank International, DBS Bank, Itaú Unibanco, National Bank of Canada, Gateway DLT, and CIB were just some of the institutions that partnered with Ivno to test the collateral tokens, the company said. Almost $18 billion worth of denominated trial tokens were created and moved instantly between nodes hosted by Raiffeisen Bank International, Natixis, and a “large UK bank,” demonstrating the tokens’ use in instant settlement and collateral management. Ivno’s global token swaps going live soon According to the company, members of the trial were able to see how Ivno can be applied to instant settlement, real-time collateral mobility, and effective cash transfers. Daniel Halstead, Ivno’s co-founder, said that the success of the trial meant that Ivno’s live service will roll out in Q1 2020. Marin Karaga, who heads the blockchain hub at Raiffeisen International, said that liquidity management “will enter a new era” once products and services like Ivno go live. The company said it got nothing but positive feedback from its latest trial, with trial members saying that asset-backed tokens “have the potential to reshape the landscape of financial services”. Ivno invited customers to sign up for its service “later this year.” While the company has ambitious goals, the lack of recognition it currently has in the blockchain space could impact the number of new clients it reaches before 2020. Update at Oct. 16th GMT 7:30 AM : Bank names were updated on request of Ivno. The post National Bank of Canada, Raiffeisen Bank International participate in global tokenized collateral trial on R3’s Corda appeared first on CryptoSlate.

Mastercard & R3 to Work Together on international Blockchain-powered Payment System

The world of finance is growing more and more automated, with major payments provider Mastercard and R3, a growing blockchain development company having made a joint announcement about their partnership through a press release on the 11th of September. They hope to put their forces together and create a pilot program that will improve connections for banks, payment infrastructures, and financial schemes. The pilot program will be supported by Mastercard’s clearing and settlement network. Mastercard supposedly has a “multi-rail” strategy that is going to increase the options for their customers in regards to moving money. The pilot is expected to lower payment overhead costs, increase liquidity, and improve the standards and protocols between banks and domestic clearing systems. In addition to these benefits, Mastercard announced that new “value add” services will become available for their clients as a result of the partnership with R3. Peter Klein, executive vice president of the new (as of yet unnamed) payment platform for Mastercard and David E. Rutter, CEO of R3, both left their comments about the partnership. Mr. Klein explained that the development of new and better cross-border B2B payment solutions will improve worldwide connectivity in the account to account sector, and that is precisely Mastercard’s ambition. He added: “Our goal is to deliver global payment infrastructure choice and connectivity as demonstrated through our recent strategic acquisitions and partnerships, including our relationship with R3.” He also added that this partnership reaffirms their commitment to innovation, on the home-front and as a result of the partnership itself. Mr. Rutter’s comments shared his excitement to partner with Mastercard and to help with the development of the digital payments industry. He said: “All institutions – large or small – rely on the ability to send and receive payments, but all too often the technology they rely upon is cumbersome and expensive.” He ended his comment with a correlation between Corda and cross-border payments. He explained that Corda is built for enterprise use cases just like this one and that he and R3 are looking forward to bringing blockchain closer to the existing payments businesses around the world. We reached out to the media contacts listed in the press release and asked them a few specific questions. We wanted to know about their estimates for when the pilot program will be launched, about the differences between the current system and once the pilot program is implemented. We also asked, what the new “value add” services are going to be, and whether they will provide support for banks when communicating the idea of implementing their solution with the domestic clearing system. To wrap everything, we also want to know if banks and domestic clearing systems will be required to join the R3 consortium in order to take advantage of the technology.   Featured image via Pexels.

R3, Infosys, and Banks Trial Blockchain-Based Trade Finance System 

Infosys, an Indian corporation that provides banks with universal digital banking solutions, has partnered with financial institutions across 19 countries to trial R3’s distributed ledger technology (DLT) based solution for trade finance, reports livemint, September 23, 2019. Leveraging Blockchain Technology  Infosys, the creators of Finacle, a core banking software used by numerous banks around theRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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Infosys Finacle and R3 complete trial of blockchain based trade finance application

Infosys Finacle and R3 complete trial of blockchain based trade finance application - CryptoNinjas Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys, today announced the successful completion of a global blockchain trial in partnership with R3, the enterprise blockchain software company. Eighteen banking groups joined the test network of Finacle Trade Connect – a blockchain based trade finance application, available on R3’s Corda platform. By […] Infosys Finacle and R3 complete trial of blockchain based trade finance application - CryptoNinjas

R3 and Infosys Wrap up Global Trial of Blockchain Based Trade Finance

The post R3 and Infosys Wrap up Global Trial of Blockchain Based Trade Finance written by Richard Kastelein appeared first on Blockchain News - Blockchain News and Opinion - Tokenomics, Cryptoeconomics Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys has completed a global five week blockchain trial in partnership with R3. Stephen Obasi, Group Head, Head Office Operations, Fidelity Bank, said:  “This is an audacious step by Infosys to simplify and revolutionize global trade finance practice using Blockchain technology. During the trial, […] The post R3 and Infosys Wrap up Global Trial of Blockchain Based Trade Finance written by Richard Kastelein appeared first on Blockchain News - Blockchain News and Opinion - Tokenomics, Cryptoeconomics
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Bank of Canada Exploring Possibility of Launching a Digital Currency

Bank of Canada, the Canadian central bank, is exploring the possibility of launching a digital currency that would replace cash and track how people spend their money. The aim of the proposed currency would be to mitigate the “direct threat” posed by cryptocurrencies to the economic sovereignty of governments and central banks, an issue that has featured prominently in the headlines recently amidst intense regulatory pushback on Facebook’s proposed coin, Libra. The proposal was pitched to Stephen Poloz, Governor of the Bank of Canada, and its board of directors in a presentation entitled “Central Bank Money: ... ﾿ Read The Full Article On CryptoCurrencyNews.com Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
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Bermuda Kicks Off Natural Blockchain I.D System Development With Shyft Network

Bermuda's blockchain identification system recently kicked off. This project is currently under development with the main partners being Perseid and Shyft Networks. The blockchain i.d ecosystem is set to leverage decentralization in keeping records for the citizens of Bermuda. This small Island nation joins Catalonia who is also creating a digital ledger for i.d record […]
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Brave Blockchain and Privacy Browser Scores 8 Million Active Monthly Users

Blockchain-powered privacy web browser, Brave, has just announced in an official blog post that the browser now has 8 million active users who use it monthly and a daily user mark of 2.8 million. The platform’s growth has been quite commendable and is slowly increasing in popularity, gearing up its head to compete with other bigger browsers. The Brave platform now also has 290,000 Brave Verified Publishers, who earn Brave’s Basic Attention Tokens (BAT) as payments for the content they produce and make available. Of this number, the announcement states that 15,000 are Twitch streamers with 33,000 website publishers and creators and a whopping 200,000 content creators on YouTube. Two months ago, Brave began allowing Twitter users to tip other accounts that post interesting content, using BAT. Since inception, 28,000 users have now signed up for this service and are free to tip and receive as well. The Brave team is heavily focused on putting control in the hands of content creators and eliminating the middlemen as much as possible. For a long time, major ad services companies like Google and Facebook, have not only been profiting too much off users’ contents but seem to unnecessarily tracking ad and user activity. Since the Brave platform is powered by blockchain technology, there is little to no chance that there will be any unnecessary tracking. Brave also incentivizes its users to watch ads on the platform and pays these viewers in BAT. The Brave Ads platform is an opt-in service that was officially launched back in April and according to design, users are paid 70% of revenue from the ads just for viewing them. Today, there have been 385 successful campaigns on the platform. Furthermore, Brave also reports that its platform engagement has hit an impressive 14% click-through rate, much higher than the industry average of 2%. The post Brave Blockchain and Privacy Browser Scores 8 Million Active Monthly Users appeared first on ZyCrypto.

Privacy-focused Brave browser boasts 8M monthly active users

Privacy-focused internet browser Brave has hit 8 million-mark in terms of monthly active users. Announcing the news on Wednesday, Brave said daily active users, on the other hand, have surpassed the 2.8 million mark. The browser, with opt-in blockchain functionality, also compensates content creators, users and advertisers in its native Basic Attention Token (BAT) for viewing online ads. Brave said it has delivered nearly 400 ad campaigns to date. The browser maker further said that it now has over 290,000 verified publishers - 200,000 of those are YouTube creators, 33,000 website publishers, 15,000 Twitch streamers and 28,000 are Twitter accounts. Brave also offers a cryptocurrency wallet for ether (ETH), ERC-20 tokens and collectibles, including BAT.
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