NFT Collection The Superlative Secret Society Price, Stats, and Review
Union Square Ventures transfers Uniswap Tokens worth $8.45m to Coinbase Prime
Solana hits $250, Dogecoin nears $0.5, Lightchain AI soars 30,000% to $5
Dogecoin: Analyzing the impact of a 155% address surge on DOGE’s prices
DeFi Exploits Plunge 40% In 2024, But Centralized Exchange Losses Soar – Report
Shiba Inu News: SHIB On-Chain Metrics Hints At Breakout Ahead
XRP Price Battles Key Hurdles: Can Bulls Prevail?
Hyperliquid’s $249M USDC outflows – Good or bad for HYPE?
Ethereum Price Approaches Critical Resistance: A Turning Point?
Bitcoin Sentiment Still Close To Extreme Greed: More Cooldown Needed For Bottom?
Bitcoin Price Comeback: Can It Regain Ground?
Is AAVE’s surge to $400 sustainable? Here’s why key metrics suggest caution
BRICS Set to Welcome 9 Nations as Partners—Russia Hints 4 More to Join Soon
Can Bitcoin reclaim $95,800 as short-term holders take profits?
Crypto Staking Classified As Taxable By IRS Amid Legal Dispute
Ripple Maintains $2, Veterans Reveal This $0.02 Token Could Be The Next Big Gainer With 50,000% ROI This Christmas
2 altcoins expected to outperform Bitcoin in January 2025
The Shiba Inu amount needed to become a millionaire revealed
Here’s a Potential Downside Price Target for Cardano If ADA Sees New Correction, According to Benjamin Cowen
Virtuals Protocol gains 28% in a day: Should you expect more gains?
Bitcoin ETFs Bleed $226M While Ethereum Funds Feast on $130M Windfall
Seasoned trader: XRP firmly above $1, ADA and LCAI to steal the spotlight
Russian Government To Ban Bitcoin Mining in 10 Different Regions Due to Energy Shortages: Report
IBM Launches Blockchain Pilot for Bank Guarantee Processes
Tech giant IBM and four Australian financial services companies have launched a pilot for a blockchain-powered platform designed to streamline bank guarantee process.
Tech giant IBM has launched a pilot for a blockchain-powered platform designed to streamline bank guarantee process
In a press release shared with Cointelegraph on July 3, IBM stated that the pilot was launched in partnership with four Australian financial services companies.
The pilot — dubbed Lygon — is backed by IBM, the Australia and New Zealand Banking Group Limited, Commonwealth Bank, real estate operator Scentre Group, and Australia’s first bank Westpac. The pilot is set to run for eight weeks for a test group of retail property leasing customers starting today.
Essentially, Lygon is a blockchain-based platform that digitizes the issuance and management of bank guarantees in the retail property lease sector. Per the release, digitizing the process will reduce the risk of fraud, decrease potential of errors, as well as increase transparency and security.
Once the pilot is completed, Lygon plans to expand the range of digitised bank guarantees it supports and begin offering them to other industries. Didier Van Not, general manager of Corporate and Institutional Banking at Westpac, said:
“We have created a blockchain-based platform to digitize the bank guarantee ecosystem. The pilot will test live transactions using distributed ledger to prove the technology is commercially viable. It is a great example of digital transformation that refines the customer experience.”
IBM has launched a number of enterprise blockchain offers to date. Last month, CIP, a facilitator of Brazilian banking and financial infrastructure, officially launched its blockchain ID platform via a partnership with IBM using Hyperledger Fabric. Its aim is to authenticate and verify digital signatures using mobile devices.
In March, five Japanese banks collaborated to roll out a financial services infrastructure based on IBM’s distributed ledger technology.
