Copy link
Increase text size
Decrease text size
Link copied

Enterprise Ethereum Alliance welcomes Standard Chartered as new member

Image Credit: Standard Chartered Bank

Fri, 08 Nov 2019, 11:15 am UTC

British banking giant Standard Chartered is the latest to join the Enterprise Ethereum Alliance (EEA), a member-led organization that aims to advance enterprise blockchain deployments leveraging Ethereum-based technology.

Launched in 2017, EEA is focused on developing a set of open-source, standards-based blockchain specifications that can be trusted and utilized globally for the betterment of all businesses and consumers. It currently has more than 500 members including the likes of Microsoft, Santander, JPMorgan, Accenture, BNY Mellon and many others.

As an EEA member, Standard Chartered said it will join forces with industry leaders in pursuit of Ethereum-based enterprise technology best practices, open standards, and open-source reference architectures.

“We are excited to be a part of the EEA and look forward to opportunities where we can collaborate with other leading industry players to deepen blockchain research and application in the banking sector,” said Dr. Michael Gorriz, Group Chief Information Officer at Standard Chartered.

The bank was among the first financial institutions to pilot blockchain technology for payments. It believes that the technology is central to banking and commerce in the digital era, allowing transactions to be verified, secure and processed in real-time.

Standard Chartered is not only actively involved in the blockchain space but also working with various industry partners and fintechs to explore its use. It is one of the founding members of Voltron, a blockchain-based open industry platform launched in October 2018 to digitally create, exchange, approve and issue Letters of Credits (LCs). In August, it completed its first blockchain-based deep-tier supply chain financing transaction with China-based Linklogis.

It has also partnered with Ant Financial to launch a blockchain-enabled cross-border remittance service from Hong Kong to the Philippines. Another project aims to create blockchain-based smart guarantees for trade finance in collaboration with Siemens Financial Services and TradeIX

The bank is also involved in Project Inthanon led by the Central Bank of Thailand to develop a central bank digital currency (CBDC), and Project Ubin led by Monetary Authority of Singapore (MAS) to explore the use of distributed ledger technology for the clearance and settlement of payments and securities.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,465.39 (+0.65%)
  • Ethereum (ETH) $163.68 (+0.50%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $321.42 (-0.98%)
  • Bitcoin SV (BSV) $267.25 (+3.37%)
  • Bitcoin (BTC) $8,465.39 (+0.65%)
Jan 24, 2020 (Friday)
12:24
Ripple CEO Brad Garlinghouse hints at the possibility of IPO
11:51
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:50
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:37
Japan ruling party lawmakers to propose digital yen in February: Report
11:00
Hackers becoming more sophisticated as crypto exchanges bolster security measures: Chainalysis
10:24
Crypto Technicals: XRP/USD slips below 21-EMA, more weakness to follow
10:23
Tether launches new stablecoin backed by physical gold
09:49
Crypto exchange ErisX partners with Etale to offer new trading features
09:23
World Economic Forum launches blockchain-based supply chain traceability platform
08:17
Crypto Technicals: LTC/USD holds above 51 mark, finds strong support at daily cloud
07:36
Liechtenstein's Financial Market Authority approves ethereum-based real estate tokenized fund
06:57
Greece to extradite alleged BTC-e operator Alexander Vinnik to France after supreme court ruling
05:26
Agribusiness blockchain initiative Covantis selects ConsenSys as technology partner
04:44
Crypto exchange Binance invests in blockchain startup Numbers
04:24
Crypto Technicals: ETH/USD holds above 21-EMA and cloud support, further weakness on charts
04:23
Indian IT firm Mphasis to develop blockchain privacy-enhancing tech solutions with QEDIT
04:04
Crypto Technicals: BTC/USD extends weakness, eyes next major support at 110-EMA (8134)
Jan 23, 2020 (Thursday)
13:26
Amun lists inverse bitcoin ETP on SIX Swiss Exchange
12:32
World Economic Forum creates framework to help central banks design and deploy CBDC
11:52
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft