The Association of banks of Italy (ABI) has successfully completed a series of test of internal transfers using the blockchain R3 Corda. About this last Saturday, reported local news Agency Ansa.
Testing began on 4 June and was conducted in the research laboratory of the ABI. The main objective of the project was the optimization of interbank payments on several parameters: speed of identification of transactions with a lost connection, and the absence of standard procedures for solving this problem and a unified communication Protocol.
At the time of testing each institution-member of the ABI was rated the verification node. For 10 months the banks have processed over one million transactions, using real operational data.
Associative Director of R3 Koutalaki Katerina (Katerina Koutoulaki) said:
“The two banks participating in the project, enter into a consortium for R3. They share our desire to introduce more blockchain applications in commercial structures and to change business from the inside, and we are happy to work with them on this project”.
ABI used the Corda Enterprise platform, designed specifically for rapid deployment in commercial ICT systems and protected communication between nodes in the entire network of enterprises connected to it. The latter provided a hub blockchain infrastructure Sia. A hybrid configuration was chosen “for establishing bidirectional channels, so that each member of the network could participate in information exchange, confidentiality, and data were available only to those who really need it”.
Corda works in full mode since September last year. In addition to banking operations, R3 uses the platform for solutions in the field of security: for example, two weeks ago it became known that the consortium is developing a biometric identification system based on the blockchain.
