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Royal Bank of Canada Payments ‘Shadows’- Martin Wildberger

The Blockchain-based Hyperledger for its US- Canada inter-bank settlements by Royal Bank of Canada (RBC).

According to the source, on Thursday Martin Wildberger, Executive Vice President for Innovation and Technology says that the technology has been “shadowing” the bank’s legacy transaction monitoring ledger for “several weeks”.

He adds,

“Everybody recognizes Blockchain will be transformative and critical,” he told the publication. “At the same point in time, I think everybody recognizes these are early days”.

Further, Hyperledger enters into the traditional payments industry with multiple major organizations globally. However, blockchain is already leveraging as to save time and money while improving security.

Also Read: Blockchain Technology Deployment – IBM overtake Microsoft

Contrast

RBC, which is now deeming “distributed ledger technology”, contrasts with the Canadian central bank’s decision in May this year not to deploy Blockchain for its domestic payments.

Wildberger adds,

“We wanted to set it up as a shadow ledger so that we can demonstrate our leadership in exploiting that technology, while at the same time recognizing that the technology is still early in its adoption phase”.

Earlier, this month, country’s first register fund manage for Bitcoin from First Block Capital was approve by authorities.

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Kerin

Kerin is active blogger and guest writer at Coinpedia. She loves writing new updates, price fluctuations and possible insights. Kerin frequently search, review and share her views among large audience via crypto media firms.

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