Category

Finance

(3.20.17) American Banker: Banks pick IBM blockchain to expand digital ID project in Canada

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Canadian banks will use blockchain technology to manage consumers’ digital identities.

The banks bought into the idea of managing digital identities for consumers five years ago. Initially, they focused on authentication: letting customers maintain one user name and password for multiple websites, mainly bank and government sites. The Concierge system, managed by SecureKey, was a way to simplify customers’ lives. The system stores 7 million Canadian consumers’ credentials currently with 250,000 added each month.

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(3.6.17) Cointelegraph: FinTech Fund To Pour $141 mln to Aid “Financial Inclusion” in Emerging Markets

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Fintech inclusion pool Accion Frontier Inclusion Fund has announced it has raised $141 mln from major global sponsors to improve finance access in emerging markets.

The fund, based in Washington D.C. and run by Quona Capital, will use cash from companies including MasterCard, JPMorgan Chase and Accion itself to assist the three bln citizens “shut out of” the global financial system.

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(3.2.17) American Banker: Banks are sold on blockchain, concerned about collaboration

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Several ideas are emerging about the adoption of blockchain in the financial services industry that are quite different than what anyone would have predicted two or three years ago.

The choices banks are making are steering financial blockchains in a direction that is far from the mysterious Satoshi Nakamoto’s conception of it, and closer to more traditional technologies out there today — a Google Docs of sorts for banks with immutability and security built in.

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(2.22.17) Computer Business Review: IBM links up with asset manager to bring blockchain to private equity market

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IBM has joined up with asset manager Northern Trust Corporation to bring blockchain technology to the private equity market.

The initiative is in response to the low level of innovation behind private equity businesses, a problematic issue in the modern world in which security, efficiency and transparency are key motivators for investment.

More here.

(2.22.17) CoinDesk: Northern Trust Goes Live With IBM-Powered Private Equities Blockchain

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Northern Trust revealed today it has been discreetly running what may be the world’s first functioning private equities blockchain.

Custom built for Switzerland-based management firm Unigestion, the platform was co-developed by Northern Trust and IBM using Hyperledger’s Fabric code base. Notably, the distributed ledger features an active node that is already providing real-time data to a European regulator.

More here.