Colombian central bank test R3 distributed classification books software


nnnIn a recent press release, the bank of the Republic of Colombia and the software company R3 reached an agreement to test its distributed classification of the book technology Corda. Since then, the Bank of Colombia has also joined the ranks of more than 80 financial institutions to become the latest members of the Union. Previously, R3 had been tested with the Singapore Monetary Authority, and the agency has been working to promote more financial regulators and government agencies to join their coalitions, making their membership more diverse.n
nnTranslation: Clovern
nIn a press release today, the South American National Bank of Colombia – the Bank of the Republic of Colombia, has reached an agreement with the software company R3 to test its distributed classified books technology Corda.n
nWith the release of the news, the Bank of the Republic of Colombia joined the ranks of more than 80 financial institutions to become the latest members of the Union. And R3 has been tested with the Monetary Authority of Singapore, both of which can be said to be key early adopters of distributed categorical accounting techniques.n
nCorda launched in 2015, is located in New York by the start-up enterprise R3 development of financial technology open source distributed classified books technology.n
nThe release of this news coincides with the efforts of R3 to promote financial regulators and government agencies to join their coalitions, thereby making their members more diversified. The group revealed its strategic key in May when its chief executive, David Rutter, said the need for more institutions to participate more widely, extending the existing R3 test.n
nHe said:n
nn”Ultimately, our goal is to get regulators involved from the start, from the design stage to the test, to the pilot, to the prototype stage.”n
nnAlthough the Bank of the Republic of Colombia is not a financial regulator in the country, it is still supported by the government, which will lead to broader support.n
nHowever, in its statement, the organization did not elaborate on its future plans.n
nThe Bank of the Republic of Columbia responded: “It is in our interest to evaluate the advantages of this technology in order to safely and effectively manage the securities transactions in the Colombian financial system.”n

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