Raiffeisen Bank has joined Blockchain Consortium R3

Recently Raiffeisen Bank International (RBI) has accepted R3, the largest Blockchain consortium
22 November 2017   841

RBI announced that it had become the first Austrian bank joining R3. R3 – is on of the biggest Blockchain consortium which is popular among banks, financial regulators, tech companies and trade associations.

R3 uses Corda, Blockchain platform designed for finance and trade and creating proof of concept system. In October Blockchain developer in New-York launched updated version of Corda.

Michael Hoellerer, RBI Plenipotentiary who responses for digital strategy explained that such decision will allow them to collaborate with peers and this step will boost the growth of RBI innovations.

Joining R3, RBI is to deal with different payment solutions, digital ID, trade finance, capital markets and so on.

In September 2015 with support of Barclays Credit Suisse, BBVA, Commonwealth Bank of Australia, Goldman Sachs, JPMorgan, Royal Bank of Scotland, State Street, and UBS launched R3. And this consortium didn’t launched it’s own cryptocurrency like Ripple’s did.

Now R3 widens it’s partnership with Microsoft and updates Corda to adopt it for Microsoft Azure. This step will approve Azure as R3 provider of choice.

BlackRock to Consider Bitcoin Futures

World largest asset management firm created a workgroup to study the prospects of crypto-based futures
16 July 2018   63

Investment company BlackRock has formed a working group that should find out what benefits the world's largest asset manager can get from entering the cryptocurrency sector, despite the fact that previously its CEO had heavily criticized bitcoin. This is reported by Financial News.

The investment giant, whose assets amount to $ 6.3 trillion, created a team that included experts from various business areas. They must collect information about the cryptocurrencies, the underlying infrastructure and technology of the blockchain.

The working group, which includes investment strategist Terry Simpson, should find out whether BlackRock should invest in bitcoin futures.

Sources also reported that BlackRock is studying the experience of its competitors in this area and the potential impact of their actions on the company's business. The working group will report on the results of its research to senior management.

A spokeswoman for BlackRock reported that the company has been considering blockchain technology for several years, but declined to comment on the cryptocurrency.

The creation of a working group may mark a turning point in relations between BlackRock and cryptocurrencies. Last year, its head, Larry Fink, said that bitcoin is an extremely speculative tool, and the only reason for its popularity is its anonymity. "This is an instrument that is used for money laundering," he said bluntly.

Fink gave his comments even before the appearance of crypto-currency futures. At that time, he saw no opportunity for his company to enter this market.