Share this article
RBS to Pilot Blockchain Proof-of-Concept in Early 2016
Royal Bank of Scotland (RBS) is planning to demonstrate its blockchain-based proof-of-concept early next year.
Updated Sep 11, 2021, 11:57 a.m. Published Oct 15, 2015, 10:21 a.m.
Royal Bank of Scotland (RBS) is planning to demonstrate its blockchain-based proof-of-concept early next year.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
at Sibos – a financial services conference held in Singapore earlier this week – John Lyons, head of strategy and commercial services for RBS's payments business, said the bank could potentially trial and launch the blockchain-based pilot in 2016.
Although Lyons reportedly declined to divulge further details about the proof-of-concept, he suggested it was "on the fringes of payments".
Lyons' comments come after Simon McNamara, chief administrative officer at RBS, announced the bank's work on a proof-of-concept using Ripple technology as part of a £3.5bn technological revamp.
More recently, RBS – which partnered with distributed ledger startup R3CEV – made the headlines after its technology chief said the bank had experimented with its own in-house cryptocurrency; using it to trade and settle between the group's banks.
The news comes amid increasing interest in blockchain technology from some of the world's major banks and prominent figures from the world of finance.
RBS image via Gil C / Shutterstock.com
More For You
Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
Top Stories
