Published on September 15th, 2015 | by bitcoin0
Blockchain Initiative Supported by Global Investment Banks
Nine major investment banks including J.P. Morgan Chase and Goldman Sachs have partnered with distributed ledger startup R3CEV.
Many on the list have previously announced independent efforts to study blockchain tech, and the banks are said to be investing money in R3 as part of the effort.
The banks and R3 will form working groups as part of the development of blockchain prototypes and proofs-of-concept.
R3 CEO David Rutter said of the partnership:
“This partnership signals a significant commitment by the banks to collaboratively evaluate and apply this emerging technology to the global financial system.
Participation by the banks, according to one representative, is reflective of the growing interest among large financial institutions in blockchain tech.