• Sat, 07 Dec 2019, 04:17 AM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

SIA, Quant Network team up to explore blockchain interoperability

Image: SIA (Twitter)

Thu, 06 Jun 2019, 05:18 am UTC

Italian tech company SIA has partnered with blockchain startup Quant Network to explore blockchain interoperability.

SIA was founded in 1977 by the Bank of Italy, ABI (the Italian Banking Association) and a number of Italian banks, in order to develop the domestic payments system by exploiting the potential of information and communication technologies. In 2017, it launched SIAchain – a blockchain-based infrastructure for financial institutions, corporate, and public administration bodies.

SIAchain leverages 570 European network nodes within SIAnet – a high-speed and low-latency fiber optic network stretching over 186,000 kilometres.

Under the partnership, the entities will aim to integrate Quant Network’s blockchain operating system Overledger into the SIAchain infrastructure to enable interoperability. They intend to develop agnostic cross-platform applications and services for banks and financial institutions.

“We’re pleased to collaborate with SIA to explore how Overledger can enable financial institutions on SIAchain or part of SIAnet to benefit from cross-platform and interoperable blockchain applications to embrace new business models, improve operational efficiencies and deliver new innovation to customers”, Gilbert Verdian, CEO, Quant Network, said.

The first interoperability tests will be executed on R3’s Corda and private Ethereum platforms, according to the press release.

SIA noted that interoperability is one of the biggest challenges faced by the financial industry to develop and implement applications based on blockchain and distributed ledger technology (DLT) spanning different technologies.

Daniele Savarè, Innovation & Business Solutions Director, SIA, said that the company aims to support financial markets with a high-performance and secure architecture and a clear governance model.

“We actively continue on our path of innovation and the achievement of a fully interoperable blockchain network is the foremost objective we want to reach with the collaboration of Quant Network and its disruptive vision on DLT,” he said.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $7,563.50 (+1.53%)
  • Ethereum (ETH) $149.34 (+0.19%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $214.34 (+0.14%)
  • Litecoin (LTC) $45.61 (+0.91%)
  • Bitcoin (BTC) $7,563.50 (+1.53%)
Dec 6, 2019 (Friday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto Technicals: LTC/USD extends sideways, finds strong support at 42.45 (Trendline)
South Korean consortium to provide blockchain-based ID services via mobile app in 2020
Crypto Technicals: BCH/USD intraday bias turns slightly bullish, scope for test of 20-DMA (220.99)
Bitfury launches enterprise blockchain platform ‘Exonum Enterprise’
CULedger reveals an EFT payment solution for credit unions in collaboration with R3, Luxoft
Reserve Bank of India governor against the development of private digital currencies
Ripple asks court to dismiss XRP securities lawsuit in latest filing ahead of court meeting
Crypto Technicals: ETH/USD struggles to extend recovery, finds stiff resistance at 200H MA at 149.77
Blockchain firm Figure Technologies hits $1.2B valuation after closing $103M Series C round
Blockchain firm ChromaWay acquires Antler Interactive after setting up its gaming arm Chroma Studios
Galaxy Digital-backed Flipside Crypto hires Accenture Managing Director Matt Bridges as COO
Crypto Technicals: BTC/USD rangebound in the Asian session, struggles at 200H MA
Canadian mining firm goes belly up; Owes local, federal government hundreds of thousands
New crypto derivatives trading platform Phemex can manage 300,000 TPS, says core developer
Microsoft creates blockchain-based incentive scheme with Enjin to recognize active members of Azure community
Dec 5, 2019 (Thursday)
Dunamu’s crypto subsidiary DXM partners with Ledger to launch custody service for institutional clients
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.