While the cryptocurrency market still follows the bitcoin trend too much, the world of technology moves apart and takes giant steps, not only for technology and research, but also for the “network” between different companies of the sector. It is news of these hours that SBI Ripple Asia is forming a consortium of several companies that will deal with the research on the use of blockchain technology for financial products.
The company, a joint venture between the Japanese SBI and the San Francisco DLT, has announced that the new consortium will see 18 financial companies research and market applications on emerging technologies. In particular, DLT, to improve efficiency for customers, at the same time as operating costs are reduced.
To take part in the initiative there will be important companies including SBI Securities, Daiwa Securities, and Nomura Securities. The consortium will also create a new working group on the study of blockchain, called the DLT Advanced Aexperiment Working Group.The ultimate goal of SBI Ripple Asia is to promote the use of blockchain applications within a growing number of financial services.