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Author Topic: [2016-01-21] Bank consortium R3CEV successfully tests Bitcoin tech in traditiona  (Read 182 times)
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January 21, 2016, 12:20:24 PM

Bank consortium R3CEV successfully tests Bitcoin tech in traditional bank transactions

R3CEV, a startup dedicated to bringing blockchain technology to traditional finance, yesterday ran a successful test of transactions between 11 of the world’s largest financial institutions. This represents a big step forward in bringing blockchain, the foundation for Bitcoin, to traditional banking.

The test, which connected the banks on a private ‘distributed ledger’ using Microsoft’s cloud-based Azure service, allowed participants to execute sample financial transactions instantly, globally, and without a centralized third-party clearing house.
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