BNY Mellon and Bank Hapoalim Host International Blockchain Summit in Tel Aviv

Global banks, regulators and developers meet in the startup nation to debate the role of blockchain in the financial markets.

BNY Mellon (NYSE: BK) and Israel’s Bank Hapoalim (TLV: POLI) are hosting today the Blockchain Summit in Tel-Aviv, intended to advance the dialogue between global market participants, the local innovation ecosystem and regulators. Finance Magnates is among the selected media outlets at the event organized by Israel’s ‘People & Computers’ magazine.


In addition to the two banks, business speakers at the event come from DeloitteMicrosoft, Traiana, UBS, D+H, Banco Santander and more. On the regulatory side there will be Bryan Schneider -‎ Secretary (Cabinet Member) of the Illinois Department of Financial and Professional Regulation; Marloes Pomp – Head of the Dutch government’s Blockchain pilots; and Stanley Yong – Deputy Director of the Monetary Authority of Singapore.

 

They will discuss the uses of blockchain technology in practical applications, key trends, challenges, the smart economy and notable innovation work. These include the Utility Settlement Coin, an ongoing effort by some key banks and financial institutions to team up and develop a new form of digital cash that will help to set an industry standard to clear and settle financial trades over a distributed ledger.

Dr. Yoav Intrator, Bank Hapoalim CTO, said: “Bitcoin as a currency might not have succeeded as expected but blockchain is the technology that will affect most significantly not just the financial world but all industries.”

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With a deep talent pool of cryptography experts, Israel is ideal as a blockchain research and development hub. Major companies such as RBS, Intel, KPMG, Accenture, Banco Santander, HSBC, Intesa, Sanpaolo and more are already tapping into it with blockchain hackathons and other endeavors.

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