A trade group for investment funds in Ireland has announced it is developing a new blockchain proof-of-concept focused on regulatory reporting.
The Irish Funds Industry Association, which counts more than 100 banks, fund administrators, advisories and law firms among its membership, said today that it will explore the development of a platform on which both institutions and regulators can oversee relevant data.
Active participants cited in the announcement include fund managers Metzler, Northern Trust and State Street.
The group is working with Deloitte, which is a member of the group, to develop the PoC. Development will be taking place at the firm’s blockchain labs in Dublin, which formally opened for business last month.
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