47 Banks Complete DLT Cloud Pilot With Ripple Tech

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A consortium of 47 banks has completed a distributed ledger technology (DLT) pilot that is now set to move to production in 2017.

Announced today by SBI Ripple Asia, Ripple’s joint venture arm with Tokyo-based financial services firm SBI Holdings, the firms lauded the test as an example of how Ripple’s technology could be leveraged by clients, even when not deployed on premise at each individual company.

Daiwa Next Bank, Mizuho Bank, Nomura Trust, Sumitomo Mitsui Trust and ORIX Bank were some of the banks involved in the trial. (A full list is available with the official press release.)

In interview, Patrick Griffin, executive vice president of business development at Ripple, framed this as a stark contrast to standard policies in place at banks in Europe and North America.

Griffin told CoinDesk:

“RC Cloud is a product that puts our enterprise solution in the cloud, allowing for banks in the region to use APIs to connect to the software and access to the solution without an install.”

Production ahead

Griffin explained that the pilot showcases how banks could use Ripple’s Connect product and its Interledger protocol to send transactions between each other, as well as any other bank

Read more ... source: CoinDesk

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