One of South Africa's largest banks has joined the global blockchain consortium led by R3CEV.
The partnership is said to include an effort to develop a broader working group within South Africa focused on regional distributed ledger networks, with the goal of creating "the continent’s first distributed ledger-based banking solution".
Andrew Baker, CIO for corporate and investment banking at Barclays Africa, said in a statement:
The consortium has spent the last year both adding new members as well as testing blockchain solutions in trials involving multiple banking participants. R3 announced its own distributed ledger solution, dubbed Corda, in April.
Absa Bank was not immediately available for comment when reached.
Image Credit: Nataly Reinch / Shutterstock.com
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