Barclays bank and CLS Group to find Swift alternative

Barclays bank partners with CLS Blockchain Consortium  in order to find Swift alternative
26 September 2017   532

The second largest asset in Britain, Barclays bank, joins the CLS Group consortium in order to develop a system for rapid and secure foreign exchange transfers, an alternative for SWIFT transactions.

As reported by, Lee Braine, from the Barclays Investment Bank's CTO office, claims that the institution has become interested in the project due to the fact that the CLS platform is to operate side-by-side with the existing SWIFT solution, rather than being forced on customers.

People can connect via Swift or via a new [distributed ledger technology] connection mechanism. So, you have a choice.

Lee Braine
Investment Bank CTO Office

Thus, Barclays will now work alongside the group's other members, including JPMorgan Chase, Goldman Sachs and Bank of China, aiming to bring new levels of efficiency and security to the forex settlements industry.

As reported, the platform called CLS Net is expected to let participants trade global currencies using six different kinds of blockchain-based products. Hyperledger Fabric is to serve as the basis of the new platform.

Swansea Hosts Blockchain and Distributed Energy Conference

The BEW'18, which will be held on February 19, 2018 in Swansea, UK, is a must-attend for people who are interested in the cutting edge of blockchain
19 February 2018   214

The Blockchain Energy Wales'18 Conference will be held on February 19, 2018 in Swansea, United Kingdom.

The conference will introduce Klenergy and their Pylon Network, which is a decentralised energy exchange platform powered by renewable energy. The BEW'18 is a must-attend for people who are interested in the cutting edge of blockchain, distributed energy, peer2peer and smart technology.

BEW conference location swanseaBEW'18 Exact Location

Location: TechHub Swansea, 221 Stryd Fawr, Swansea SA1 1NW, UK
Time: from 9AM to 1.30PM

The headline speakers include Paul Harwood, Basicincome supporter and advocate, and David Clubb, director of RUKCymru and head of digital RenewableUK.

The agenda of the conference is as follows: Blockchain technology and its application in the energy sector, future of blockchain wallet systems, buildings as power stations, building the open-source co-operation protocol for the energy sector, and more.