ANZ Banking Group Trials Shared Ledger Technology

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Ledger technology is of significant value to the financial sector, although it is unclear as to what role these different types of blockchains will play in the end. The Hyperledger Project helped “sponsor” a trial of shared ledger technology conducted by the ANZ banking group.

Financial institutions are flocking towards blockchain technology and distributed ledgers these days, although it remains uncertain as to how this technology will be implemented in the long run. With a wide variety of blockchain providers at their disposal, there is a mix or public and private solutions. A recent trial by the Australian and New Zealand banking group ANZ introduced a new term, called shared ledger technology.

Shared Ledger Technology Trial By ANZ

The primary purpose of this trial project was to see how this technology would behave in the field of reconciling international payments between ANZ and an undisclosed US bank. This news comes on the heels of the SWIFT network being abused several times during which smaller banks were breached to attack US financial institutions.

ANZ told the media shared ledger technology is not the same as using a blockchain, although both solutions will act in a very similar manner. Reconciling cross-border payments between counterparties in

Read more ... source: TheBitcoinNews

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