R3CEV Tests Blockchain for Banking InstitutionsA renowned blockchain startup R3CEV leading a consortium of 42 major banks and financial institurtion announced it had finalized technology testing with eleven members of the group.
According to the company’s statement, the testing covered Ethereum network-based distributed ledger. However, it was Microsoft Azure that hosted the network. Previously, Microsoft Azure announced it would be supporting Ethereum’s blockchain-as-a-service. The startup states it intends to hold several tests with the group’s members.
Participating in the testing operations were BMO Financial Group, Credit Suisse, Commonwealth Bank of Australia, HSBC, Natixis, Royal Bank of Scotland, TD Bank, UBS, UniCredit, and Wells Fargo.
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