• If SWIFT had a storefront in Ukraine, this would be their shingle (via Shutterstock).
    Ripple,  Technology

    Money transmitter SWIFT adds cryptocurrency capability with R3’s Corda

    The current bank transaction intermediary is playing catch-up with the speed, but not cost, of blockchain

    Bank transaction intermediary SWIFT announced on June 24 that if its current proof-of-concept test is successful, it will incorporate R3’s Corda enterprise distributed ledger technology (DLT) into its new high-speed payment confirmation platform, Global Payments Innovation (gpi).

  • Blockchain project jobs
    Innovators,  Media,  Technology

    Forbes 50 list of top companies using blockchain released

    Only three “pure” blockchain companies made the list of the $1 billion-plus firms

    Forbes on Tuesday announced its inaugural Forbes 50 list of large companies leading the way in developing and using blockchain technology. The list has a notable lack of “pure” blockchain firms. In fact, there are just three—blockchain hardware and software maker Bitfury, cryptocurrency exchange Coinbase, and financial blockchain developer Ripple.

  • money laundering
    Technology,  United States

    Financial institutions fighting money laundering warm to blockchain technology

    Storing Know Your Customer data on a secure blockchain can simplify an expensive and frustrating legal process

    Enterprise blockchain software firm R3 recently completed a proof of concept test of its Know Your Customer (KYC) application built on its Corda blockchain platform, French financial institution RCI Bank and Services announced on Dec. 3. KYC requirements are part of the due diligence needed to meet Anti-Money Laundering (AML) regulations, an important but time- and money-consuming process used in the financial industry. Twenty-six firms participated in the test of CordaKYC, including insurer Allianz France and banks BNP Paribas and Societe Generale. In June, R3 announced that a group of 39 firms in 19 countries, including Deutsche Bank, ABN AMRO, and the Federal Reserve Bank of Boston completed KYC transactions…