JPMorgan and Goldman Sachs to use blockchain

Several large financial institutions conducted a pilot blockchain based securities swap test
21 November 2017   31602

Several large financial institutions, including JPMorgan Chase, Goldman Sachs, BNP Paribas, Credit Suisse and Citi, conducted a pilot swap test with securities based on distributed ledger technology. This is reported by the PRNewswire.

The participants of the pilot project concluded that using blockchain it is possible to improve the efficiency of various operations in the financial market. In particular, organizations noted that when all participants in a transaction use identical and unalterable data, transaction payments can be processed faster, because they require fewer different approvals and exclude the possibility of disputable issues.

The testing was carried out on the basis of the AxCore block-platform developed by Axoni, which uses a standard data structure that meets the requirements of the International Swaps and Derivatives Association (ISDA).

Equity swap data is infamously complex and difficult to manage, making it a terrific fit for distributed ledger technology. We're delighted to have reached another key milestone alongside our partners on this project and grateful for their collaborative efforts to demonstrate how powerful this tech can be.
 

Greg Schvey 

CEO, Axoni

At the end of last year, the blockchain-based start-up Axoni managed to raise $ 18 million from major international banks and venture investors, and in May 2017 the company raised more than $ 20 million within the A series investment round.

Ethereum Scaling Solution Raiden to Launch Last Testnet

As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second
20 July 2018   162

On Thursday, July 19, at the Dappcon developer conference in Berlin, the last test network of Raiden for the Ethereum blockchain was launched, CoinDesk reports.

The release includes a minimal implementation of the scaling solution, which will allow the transfer of Ethereum tokens outside of the main blockchain. This is the last test phase before the introduction of technology into the core network of Ethereum.

It's the first step towards going to the mainnet. We really want people to really test this so we have a user interface, we have an API and we've created an open Github for everything they could find, so if we go hopefully bug-free on the mainnet.
 

Lefteris Karapetsas

Core Developer, Raiden

According to him, the new release represents an early implementation for the core network and contains a new rewritten code of smart contracts and payment channels that can be restored in case of unintended closure.

Also, Karapetsas urged developers to join the test network to help detect possible bugs, adding that a bounty program will be launched to encourage this activity.

The release date for the main network has not yet been assigned, but the developers intend to follow this earlier promise and launch Raiden this summer.

Karapetsas also promised to publish regular updates and code optimizations after the full release, adding that Raiden will complement other Ethereum scaling solutions that are currently being developed.

Raiden is essentially the payment channel network for ethereum, it's supposed to help us scale token transfers. The long term goal would be to have people use Raiden from a mobile device and be able to make off-chain token transfers just from their phone. That would be the long term vision, it would probably work in combination with various scaling solutions, sharding, plasma, a sort of hybrid.
 

Lefteris Karapetsas

Core Developer, Raiden

Raiden is developing from the 2015 and is written mostly on Python. The project is much like the Lightning Network. As noted by the developers, after implementing the new solution, the Ethereum network will be able to provide more than a million transactions per second.