Banks that need help with their back-end costs can now go to a blockchain app store created by IBM.

According to CNN, LedgerConnect gives financial companies access to seven vetted blockchain vendors to help streamline their trading processes and back-end operations by establishing one set of records.

Banks, including Barclays and Citi, are already taking part in the program. IBM is working with financial firm CLS, which settles transactions in foreign currencies, to keep this blockchain private, CNN reported. Read more here.

 

ThirtyK Staff
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