더루프 22개 증권사 참여 블록체인 컨소시엄 출범
A new blockchain consortium has been formed in South Korea, with both established finance firms and technology startups on its membership roster.
According to one of the group’s members – blockchain startup The Loop – the new initiative will focus some of its efforts on building tools for managing trade finance processes.
The firm said in a statement:
“Beyond providing [the] blockchain-based authentication and information sharing system, we collaborate with other technology providers on developing a prototype for financial services in areas of securities trade and post trade, the prototype that is to reduce the cost and operational risk in trade finance, and ultimately improve trade efficiency.”
In late October, the East Asian country’s government began putting the pieces in place for its public-private consortium, back by major South Korean banks and their top regulator, the Financial Services Commission (FSC).