The Latest Blockchain-Related Initiatives Bringing Closer Wide Adoption

The race for blockchain adoption is accelerating in speed and intensifying with every other project, trial, regional and industry alliance. Since the end of May, we were looking at blockchain pilots and open-source blockchain projects, but activities continue to pile up and another set of blockchain-related initiatives has been launched in a recent month along with various regional and industry-specific blockchain consortiums formed.

BNY Mellon, Deutsche Bank, ICAP and Santander join UBS and Clearmatics to advance the Utility Settlement Coin concept

At the end of August, the alliance of financial institutions was reported to be launching its own commercial-grade blockchain system by 2018. As reported by the New York Business Journal, the system will enable financial markets to make payments and settle transactions quickly using blockchain technology.

The USC concept will be developed through a series of short iterative phases and platform deployments. At each stage, the aim is to increase the number of market participants, broadening engagement, connectivity and network effect.

UBS and Clearmatics launched the concept in September 2015 to validate the potential benefits of USC for capital efficiency, settlement and systemic risk reduction in global financial markets. The ...

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