The Brazilian banking association Febraban is actively testing the Blockchain technology
Febraban is exploring the technology of blockchain.
The Brazilian banking association Febraban reported on the results of the tests that were conducted on the Corda blockchain-platform, developed by the global banking consortium R3.
Febraban moves the blockchain into banks
Febraban has been studying the potential of distributed technology since 2016, creating for this purpose a special group comprising members of the Executive Committee for Technology and Banking Automation - Banco do Brasil, Bancoob, Banrisul, Bradesco, BTG Pactual, Caixa, Citibank, Itaú Unibanco, JP Morgan, Safra, Santander, also the Brazilian central bank, CIP and B3, a new company that emerged as a result of the merger of BM & FBOVESPA and Cetip.
According to a survey conducted by Febraban last year, 65% of industry executives are studying the introduction of blockchain in finance.
According to the Federation, the first blockchain project called "Fingerprint" on the Kordo platform was tested by the Brazilian banks Itaú, Bradesco and B3.
Within the framework of the test, a database was created, which included customer names, Brazilian official identification documents (CPF and RG), age, address and telephone number with document storage.
The test showed the effectiveness of distributed technology in the banking sector,