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Blockchain up Brazil .. R3 develops platform with local banks

2019-06-13 01:56 pm | Resource: News Section | No Views : 143

Blockchain up Brazil .. R3 develops platform with local banks Blockchain R3 has revealed that it is developing a block chain platform in Brazil with Bradesco, Itau and B3 banks, local press reported Thursday (June 12th).
The R3 Consortium, which consists of large banks and technology companies, announced at the CIAB Febraban event in Sao Paulo that it is currently collaborating with Brazilian banks.
During the event, R3 executives claimed that Consortium had partnered with banks Bradesco, Itau, and B3 to build a platform supported by the block chain technology to be used for internal trade and insurance.
The R3 consortium of blockchain technology, which recently opened an office in the country, indicated that the Brazilian stock exchange is also using its Corda digital identification system.
In the same context, the Executive Director commented on current developments, saying that before expansion, block chain technology needs to mature and become sufficiently secure for large companies.
In May this year, CULedger, Consortium block chain and Union Credit Service, chose R3's Corda to support its next cross-border payment product.
Earlier this week, CIP, a convenient provider of Brazilian banking and financial infrastructure, launched its block chain platform in partnership with IBM using Hyperledger Fabric.
The emerging block chain technique is a digital book. This book can record any transaction on it, not just a financial transaction, but any transaction on the globe that is not fraudulent or tampering, and its database is distributed. Easily verify this data, as it is of course not centralized, but is hosted by millions of computers simultaneously.
Blockchain technology continues to be well-known in many different fields and industries, and there has been great progress in these areas through many different partnerships. This emerging technology is approaching something that is capable of controlling all the different and diverse fields in many countries. As well as companies and corporations, because they offer speed, security, and accuracy in one thing.

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