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A group of Italian banks is very active, as the test of the blockchain system pushes forward with more organizations and actions.
As reported in October, 14 banks have passed the first phase with the help of ABI Lab, the technological laboratory supported by the Italian Banking Association (ABI).
"Banks pay close attention to this experiment, and there are also interests from banks in other countries".
This has continued since June, when they said that this new technology will be applied to interbank processes to increase the transparency and visibility of data, speed up the execution of transactions and allow controls and exchanges directly within the company. ;application.
In the last chapter, the Project Spunta Banca (free translation: "Bank Check" project), moves on to the next phase. The project includes NTT Data and SIA technical partners, in addition to the R3 Rope platform.
This time we have 17 banks, representing 65% of the Italian banking sector, involved in the test, selection and implementation of the new distributed ledger technology (DLT).
According to ABI, almost two million movements were uploaded, two months of actual data from 17 banks. Compare it in October, when a total of 1.2 million movements were uploaded.
The ABI says: "Banks pay close attention to this experiment.There is also interest from banks in other countries." He did not offer details about who, what, why etc.
Queries (database queries on all transactions in a node) averaged 3.28 seconds. The technical characteristics of the application include 20 flows, smart contracts within the Corda platform, 50 API services and 30 web pages.
The three additional banks are Banca popolare dell 'Emilia Romagna (also known as BPER Banca), Banco Desio and Banca Popolare di Puglia and Basilicata. The initial pilot project included Banca Mediolanum, Banca Monte dei Paschi di Siena, Banca Sella, BNP Paribas Group, Banca Popolare di Sondrio, Banco BPM, CheBanca! – Mediobanca Group, Credito Emiliano, Crédit Agricole, Credito Valtellinese, Iccrea Banca, Intesa Sanpaolo, Nexi Banca and Ubi.
Along with this news, ABI Lab has entered into a partnership agreement with R3 to develop applications and solutions on Rope.
Pierfrancesco Gaggi, president of ABI Lab, comments: "We believe that the partnership with R3 will provide a series of answers to the questions of simplification, certainty and efficiency of the processes".
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