Italian Banking Association Further Tests Interbank Blockchain System Powered by R3 Corda

The Italian Banking Association states its blockchain solution tested by 18 local banks is now in the pre-production phase.

The Italian Banking Association (ABI) is now testing a blockchain interbank solution based on blockchain consortium R3’s open-source distributed ledger platform Corda, fintech news outlet FinExtra reports on Wednesday, Feb. 13.

The ABI states that the platform has been developed together with its technical partners — R3, Japanese IT firm NTT Data and Italian ICT company Sia. The project, dubbed “Spunta,” is reportedly now being tested by 18 banks that represent 78 percent of the Italian banking sector by number of employees.

As Cointelegraph previously reported, the blockchain-powered interbank system by the ABI successfully passed the initial phase of testing in October 2018, with the participation of 14 local banks.

According to the association, the project is now in its…

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2019-02-13 14:33:00

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Written by Cointelegraph

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