Cross-border payments platform on Corda DLT Tech by R3

Distributed ledger consortium R3 unveils a cross-border payments platform built on Corda DLT Tech
01 November 2017   430

Distributed ledger consortium R3 and 22 of its member banks have developed a solution that leverages distributed ledger technology (DLT) to enable fast, efficient and cost-effective cross-border payments. The prototype is to be released by the end of 2017

Banks involved in the initiative include Barclays, BBVA, CIBC, Commerzbank, DNB, HSBC, Intesa, KBC, KB Kookmin Bank, KEB Hana Bank, Natixis, Shinhan Bank, TD Bank, U.S. Bank and Woori Bank. 

As detailed, the solution works by creating a representation of fiat currencies on ledger, and is programmed to enable interaction with central bank digital currencies as they are rolled out. It will improve world trade efficiencies by facilitating instant international payments.

International payments systems have struggled to keep pace with the explosion of global trade and the globalisation of the world’s markets. This marks a significant milestone for distributed ledger technology as we work alongside our bank members to harness its unique attributes to build the world’s first true international payments system. This solution will be a game-changer for any bank or company whose business relies on making or receiving cross-order payments, and is a key part of R3’s wider strategy to leverage distributed ledger technology for faster and more efficient execution of all types of financial transaction.
 

David E. Rutter
CEO of R3

The unveiling comes just a month after the startup announced version 1.0 of Corda.

On top of that, other projects built around R3's core tech offering have been unveiled in recent days, including a trade finance-focused partnership involving U.K.-based Bolero.

Play2live announced the release of its MVP and a token sale

Blockchain-based streaming platform for gamers release a full-fledged esports streaming service
21 February 2018   18

On February 21 the first blockchain-based streaming platform for gamers, Play2live, opened its LevelUp Coin (LUC) token sale event with a deadline on March 14 at 17:00 UTC along with the rolling out of its MVP. The platform is based on BitShares 2.0, already successfully passed a heavy testing stage with with live matches and streams.

The service is already capable of accepting around 200,000 viewers. A special tournament for CS:GO - CryptoMasters with the world's first prize pool entirely comprised of the virtual currency ($100,000 worth of LUC) is also announced under the banner of Play2live. The event is set to take place in Minsk, Belarus on February 24-25. The broadcast will be arranged in 7 languages - English, Russian, Chinese, Korean, Spanish, Portuguese, and German.

The service also features a voting system during matches using the same LUC. This token acts as an internal currency that can be easily converted to another cryptocurrency or a fiat currency by means of the Play2live's API.

The company itself was established in 2017. Its purpose is to merge blockchain technology and streaming service to provide all the participants of the streaming process a seamless platform for prioritizes interaction and encourages the diversity of monetization schemes. It is reported that Play2live will have up to 15 sources of revenue.

On February 21 at 17:00 UTC CEO of Play2live opened the token sale with a Q&A stream session with topics concerning the update of P2l, product and sale related matters.