Italy’s Banks to Use Blockchain to Boost Settlements and Improve Transparency
Italian banks will deploy blockchain technology to run reconciliations and improve transparency in transactions between banks.
The initiative comes as part of a program managed by ABI Lab dubbed Spunta Project, a blockchain interbank solution based on blockchain consortium R3’s open-source distributed ledger platform. The ABI began testing Spunta in February. At the time, Spunta was undergoing testing by 18 banks that together represent 78% of the Italian banking sector by number of employees.
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