• Mon, 15 Jul 2019, 05:59 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

R3, Bradesco, Itau team up to develop blockchain-enabled platform for foreign trade and insurance: Report

R3 Office Photo via CoinDesk

Fri, 14 Jun 2019, 03:31 am UTC

Enterprise software firm R3, in collaboration with Brazilian banks Bradesco and Itau, is developing a blockchain-based platform, Cointelegraph reported.

The announcement was made by R3 at the recently held CIAB Febraban event in São Paulo.


Both Bradesco and Itau are existing members of the R3-led global blockchain banking consortium, which they joined back in 2016.

During the event, R3 executive announced that the firm has teamed up with the two banking giants to develop a blockchain-enabled platform for foreign trade and insurance.

In addition to the initiative with the two banks, the executive also said that the Brazilian stock exchange B3, formerly BM&FBOVESPA, was also using R3’s Corda blockchain platform for digital identification. B3 had also joined the R3 blockchain consortium in 2016.

Previously in March, R3 announced that it was one of the partners of Laboratory of Financial and Technological Innovations (LIFT) an initiative coordinated by FENASBAC and the Central Bank of Brazil. It said (via online translation):

“The Corda platform in its Open Source version will be made available to LIFT participants who are interested in developing solutions using blockchain technology. The Enterprise version of Corda Enterprise will also be available free of charge for testing and development to participants requesting access to R3.”

Brazil is increasingly making efforts to be at the forefront of the blockchain revolution. Just recently, a group of 10 federal deputies filed a draft policy that aims to encourage implementation of blockchain and other advanced technologies in all local public administration units.

In addition, Camara Interbancaira de Pagamentos (or Interbank Payment Clearing House, CIP) launched a blockchain-based identity platform in collaboration with IBM in the country’s banking sector.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,559.60 (+0.05%)
  • Ethereum (ETH) $229.88 (-3.28%)
  • XRP (XRP) $0.315800 (+0.70%)
  • Litecoin (LTC) $91.05 (+0.72%)
  • Bitcoin Cash (BCH) $311.43 (+0.47%)
  • Bitcoin (BTC) $10,559.60 (+0.05%)
Jul 15, 2019 (Monday)
13:14
Crypto Technicals: XRP/USD extends weakness below 200-DMA, on track to test trendline support at 0.28
13:10
Draft of India’s cryptocurrency ban bill surfaces online
11:57
Shinhan Card patents blockchain-based system with credit card functionality
11:12
IOTA, MOBI, SAP, Deutsche Telekom and others join Convergence Alliance focused blockchain, AI, IoT
11:12
Crypto Technicals: LTC/USD pauses downside at 84 handle, bias still bearish
10:28
Crypto Technicals: BTC/USD holds support at 55-EMA (9854), break below will see further weakness
10:15
Enterprise blockchain firm R3 eyes IPO: Report
09:36
Bank of Thailand reviews blockchain applications in multiple areas
08:51
PayFast to stop accepting Bitcoin as payment method due to high fees, slow process time
07:17
U.S. lawmakers seek to prevent big tech companies from offering cryptocurrencies
06:03
Georgia VAT-exempts cryptocurrencies
05:50
Bitpoint Japan finds part of stolen cryptocurrency
05:02
South Korean companies team up to build blockchain-based identification system
Jul 12, 2019 (Friday)
11:40
Litecoin becomes official cryptocurrency of American football team Miami Dolphins
10:48
Crypto Technicals: Ripple breaks below 200-DMA, opens up further downside
10:40
Japanese cryptocurrency exchange Bitpoint loses $32M to hackers
09:40
US Election Commission to approve Congressional candidate's Ethereum token giveaway plans
09:16
HSBC reduces transaction time by 12 Days using Voltron blockchain platform
09:07
Amazon, Deloitte, Fidelity support IDEO CoLab's free blockchain accelerator program
09:05
Turkey considers developing central bank digital currency
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft