R3

On Friday September 13, MasterCard Incorporated, an American multinational financial services corporation based in New York, United States, announced its partnership with enterprise blockchain tech company R3 to design distributed ledger technology (DLT)-based international and transborder payments.

While at the SBI Financial Results briefing, Yoshitaka Kitao, CEO of SBI Group, proclaimed that the company has already started discussions to develop a project for R3 which uses Ripple more widely.

R3 officially announced it is going to launch a new version of its open-source distributed ledger software. The key update will include a built-in application firewall. The fintech tool had been under development for almost three years before it was ready for release.

The Banking Association of Italy (ABI) officially launched a Blockchain pilot to carry out a test on the technology for interbank reconciliations. ABI lab, the consortium’s technological laboratory will conduct out the trial and more 14 local banks will be initially involved in this process. The whole group will exploit the Cords platform that was developed by R3.

Welcome back to the Coin Idol TV News channel. The digest on April 17 features the following topics from the world of Blockchain and cryptocurrency: Millions of funds in Coinsecure cryptocurrency stolen, CSO blamed, Russian Financial Institution enters R3 Blockchain Consortium, Mastercard to apply blockchain tech to fighting fake identities, Samsung is planning to implement blockchain technology for logistics purposes.

Russia-based financial institution SBI Bank LLC, belonging to banking giant SBI Holdings with its headquarters in Japan, has stated its intention to join the banking consortium R3. The New York City-based consortium of more than 70 of the world’s biggest banks specializes in blockchain technology.

R3 is not yet ready to accept Russian banks as members of the Blockchain consortium. The largest bank in Russia, Sberbank, wanted to join the R3 Blockchain consortium, however, R3 has made it clear that this application would be rejected due to sanctions.

The world cryptocurrency news outlet Coinidol.com interviewed the Managing Director, Charley Cooper, of R3, a financial innovation firm which assists financial institutions to embrace new technologies.

Australian banks are ready to replace both the R3 Blockchain Consortium and the Linux Hyperledger projects in the position of leaders who drive the development of Blockchain technology. This future is predicted by Thomas McAlister, an Australian expert at Bankcoin Reserve Pty Ltd, who works with governments and their central banks.