Published on September 16th, 2015 | by bitcoin0
Nine of the World’s Biggest Banks Will Combine Funding for Digital Currency Standards by R3
The funds are expected to go to a forthcoming Series A capital raising for R3.
Richard Brown, a technology expert formerly with IBM UK, and Tim Swanson, a U.S.-based cryptocurrencies consultant, have also joined R3.
“This partnership signals a significant commitment by the banks to collaboratively evaluate and apply this emerging technology to the global financial system,” said Rutter.
R3 focuses on applications of cryptographic technology and distributed ledger-based protocols within global financial markets.
“R3 has the people and approach to drive this effort and increase the likelihood of successfully advancing the new technology in the financial industry.”