Raiffeisen Lender Global (RBI) has develop into the 1st Austrian banking group to join the R3 distributed ledger (DLT) consortium.

The bank, which operates a banking community in central and jap Europe, confirmed its participation in the company-centered DLT project this 7 days, indicating its need to “exchange and collaborate with peers” and build the stability and usability of RBI’s very own blockchain initiatives.

Michael Hoellerer, plenipotentiary of RBI, said in a assertion:

“The usage of technology platforms this sort of as ‘Corda’ allows us to achieve extensive know-how in the fundamental infrastructure of potential business blockchain programs.”

R3’s community consists of in excess of 160 worldwide associates from throughout a selection of industries, including financial institutions, fiscal establishments, technology firms, trade associations and other people.

The group revealed far more than $100 million in new funding in May possibly this year, followed by the start of the beta model of its Corda computer software system in June.

Just last 7 days, R3 exposed it is to far more deeply integrate Corda with Microsoft’s Azure cloud assistance with the intention of simplifying the advancement and deployment system for corporations, and easing business deployment of R3’s CorDapp programs.

RBI graphic by using Shutterstock

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