Altcoins Talks - Cryptocurrency Forum
Further Discussions => Banks & Cryptos => Topic started by: Riya143 on July 27, 2020, 01:36:34 PM
-
Banks across Italy are using R3’s Corda blockchain to vastly speed up the process of double-checking transaction logs.
Silvia Attanasio, head of innovation at the Italian Banking Association (Associazione Bancaria Italiana or ABI), said both the process of interbank reconciliation and the technology underlying the exchange of data had to change.
In the old system, reconciliation took a long time and was unpredictable. The average time for reconciliation was between 30 and 50 days, Attanasio said. On Corda, reconciliation is completed within a day.
Read More: https://www.coindesk.com/85-of-italian-banks-are-exchanging-interbank-transfer-data-on-corda