SBI Using R3’s Corda Blockchain for FX Trading

SBI Holdings, a Japanese financial services giant, has started using R3’s Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term infrastructure for facilitating forex (FX) margin trading.

Reported by the Japanese news outlet PR Times on Thursday, the company is using R3’s Corda blockchain in sharing transaction history among traders, thus confirming that the order contents and actual Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term are the same.

This, according to the company, will prevent human error and thus reduce cost.

“We have reduced the operational risk in the confirmation business and ensured high privacy protection and tamper resistance. In addition, the blockchain guarantees the identity of transaction data between the parties and improves the reliability of collation work,” SBI stated.

“Furthermore, the real-time transmission of information enables seamless data linkage to back office work.”

The blockchain technology will be used by both SBI Securities and SBI Liquidity Market and the usage will be confined within the company ecosystem. SBI, however, has plans to open the blockchain usage outside the group companies in future.

Asia is at the forefront of adopting blockchain

This integration of R3’s infrastructure on SBI’s platform has marked the first practical use of Corda in Japan.

Notably, SBI is also a partner of Ripple, together forming SBI Ripple Asia, to promote the use of the blockchain company’s cross-border payments infrastructure for remittance across Asia.

The financial giant also has deep ties with the blockchain and also operated a crypto exchange in Japan.

Last year, the investment arm of the group invested an unknown amount of sum in Securitize, a digital securities startup. The venture arm also holds stakes in two crypto subsidiaries of the Boerse Stuttgart Group.