These days, blockchain technology is the topic of many conversations among several industries. It is in the center of discussions in the banking community, but the IT sector is about to discover it as well. Blockchain has become prominent as it is the data base structure that underlies the cryptocurrency bitcoin. But the technology is capable of achieving more: blockchains can become a true game-changer in international payments, clearing and smart contracts.
Will blockchain redefine the future of trade?
Today, blockchain is considered the “next big thing”. What about tomorrow? Will this new technology have an impact on trade? Whatever happens, this trend will almost certainly lead to a new way of working. ING is positioned at the leading edge with the distributed ledger platform “Marco Polo”.
Blockchain: the future?
What does the development of digital currencies and transactions herald for financial institutions like ING? And how can it change the manner in which we do business? ING investigates whether blockchain, the technology behind the bitcoin for example, can be used for the settlement of complex transactions.
How Blockchain technology can be reasonably applied
When an internet-based currency called Bitcoin emerged a few years ago, the idea of virtual money mostly triggered skepticism. However, the underlying technology, called Blockchain, may potentially change the world of banks and corporates altogether. We will demonstrate how the technology of tomorrow can be used in a productive way.
ING is one of the key drivers of the future of blockchain technology
ING has realised the potential of the blockchain technology at an early stage and began to explore its practical applications immediately. The R3 Consortium, which is a collaboration of the leading global financial institutes, also concentrates on achieving these targets. ING has been a member of the R3 Consortium since its foundation back in 2005.