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January 21, 2016 04:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/QHrJCv6YCw8/bank-consortium-successfully-tests-bitcoin-tech
Bank Consortium Successfully Tests Bitcoin Tech
An anonymous reader writes: R3CEV, a startup dedicated to bringing blockchain technology to traditional finance, yesterday ran a successful test of transactions between 11 of the world's largest financial institutions. This represents a big step forward in bringing blockchain, the foundation for Bitcoin, to traditional banking. The test, which connected the banks on a private 'distributed ledger' using Microsoft's cloud-based Azure service, allowed participants to execute sample financial transactions instantly, globally, and without a centralized third-party clearing house. Participants included Barclays, BMO Financial, Credit Suisse, HSBC, Royal Bank of Scotland, TD Bank, UBS, and UniCredit among other leading financial groups.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/QHrJCv6YCw8/bank-consortium-successfully-tests-bitcoin-tech
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