Australian Banks Join IBM to Outstrip the Paper Bank Guarantees Using Blockchain

Australian banks partner with IBM to eliminate the paper documentation based guarantee procedure. They will now be using the Blockchain network to validate the agreements. Banks will now shift to computerized and automated sharing system for verification and recording data . Australia’s top-ranking banks are collaborating with IBM and the Scentre Group for the adoption of Blockchain technology for daily functionality. The retail chain giant Scentre has taken up the onus of testing the […]

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IBM: Partners with ANZ, CBA and Westpac #ANZ #banking #banks #blockchain #CBA #fintech #FinTechDisruptors #IBM #Lygon #Westpac IBM: Partners with ANZ, CBA and Westpac for blockchain bank guarantee pilot The partnership build a blockchain-based platform for bank guarantees called Lygon The launch marks a significant milestone in the global development of blockchain solution Lygon platform to reduce the time taken to issue a bank guarantee It has the potential to benefit many sectors and to reduce the risk of fraud by the banks Digital process increases transparency and security through the use of blockchain technology The Lygon platform will operated by Lygon 1B Pty Ltd Link:

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