Banking on Blockchain

tvb-blockchain

On October 21 Friday, Hong Kong’s TVB Pearl Money Magazine aired a feature program that looks at potential of Blockchain to transform the banking industry. In the program, Iqbal AliKhan, Strategy and Business Development Executive for the Global Payment Industry & Blockchains at IBM, was interviewed, and discussed why “permissioned” Blockchain is needed for secure transactions among banks.

The full program can be viewed here: http://bit.ly/2evY15O

Apart from UBS Group that was mentioned in the program, IBM is also working with a list of banking and financial institutions for various Blockchain projects, including:

  • London Stock Exchange Group – exploring Blockchain to manage risk and bring additional transparency to global financial markets;
  • Japan Stock Exchange – testing the potential of Blockchain technology for use in trading in low transaction markets;
  • BNY Mellon – designing and developing a unique application for securities lending, using a Blockchain network to trade and transfer assets;
  • Mizuho Financial Group – testing Blockchain for settlements using virtual currency;
  • Crédit Mutuel Arkéa – using Blockchain to manage customer identity, KYC, and improve customer satisfaction;
  • Bank of Tokyo Mitsubishi UFG  – using Blockchain to examine the design, management and execution of contracts among business partners;
  • China UnionPay – using Blockchain for its loyalty bonus points exchange program amongst multiple banks;
  • CLS Group – collaborating with IBM so that its payment netting service using Hyperledger Fabric meets the requirements necessary for delivering a resilient, secure, and scalable service.
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