40 Major Banks Test Rival Blockchain Techs of Chain, Eris, Ethereum, IBM, Intel
Forty major global banks tested the blockchain technologies of various technology providers in the second experiment conducted by R3 CEV, according to reports in the Wall Street Journal and the New York Times.
Bank of America, Citi, Deutsche Bank, HSBC, Morgan Stanley, RBS and 34 other banks from R3’s consortium tested the distributed ledger technologies from Chain, Eris Industries, Ethereum, Intel, IBM and the IPFS project. The cloud systems of Amazon AWS, IBM and Microsoft Azure were utilized for the tests.
More than just base blockchains were involved in R3’s experiment. Some of applications tested by R3 consortium banks included Eris’ blockchain agnostic suite of smart contracts, different blockchain clients like Eris:db and Go-Ethereum (geth), and the peer-to-peer hypermedia protocol IPFS.
All the banks that took part in trialing the five blockchain technologies included Banco Santander, Bank of America, Barclays, BBVA, BMO Financial Group, BNP Paribas, BNY Mellon, CIBC, Commonwealth Bank of Australia, Citi, Commerzbank, Credit Suisse, Danske Bank, Deutsche Bank, Goldman Sachs, HSBC, ING Bank, Intesa Sanpaolo, JPMorgan, Macquarie Bank, Mitsubishi UFJ Financial Group, Mizuho Financial Group, Morgan Stanley, National Australia Bank, Natixis, Nordea, Northern Trust, OP Financial Group, Royal Bank of Canada, Royal Bank of Scotland, Scotiabank, SEB, Societe Generale, State Street, TD Bank Group, UBS, UniCredit, U.S. Bank, Wells Fargo and Westpac Banking Corporation. The latest round of tests expanded on the smaller pilot completed by 11 banks in January, utilizing Ethereum’s blockchain on Microsoft Azure.