New Bitcoin.com Podcast Episode with Tim Swanson of R3

in #bitcoin7 years ago

 New Bitcoin.com Podcast Episode with Tim Swanson of R3 BY BITCOIN.COM- JULY 22, 2017

During this week’s Bitcoin.com podcast the host, Richard Jacobs, sits down with Tim Swanson, Director of Market Research of R3 consortium. They discuss blockchain, banking, and the mission of R3 as a banking company interested in blockchain and distributed ledgers. Swanson defines blockchain technology and criticizes people for not clearly explaining or defining blockchain technology. It can be vague and nebulous, he says. He defines blockchain as a cryptographically-secured, tamper resistant data structure that is stored in a cloud. He elaborated on what R3 is building:

R3, the company I work for, is not even actually building a blockchain per se. It is building a distributed ledger. A blockchain is one instantiation of a distributed ledger.

He mentioned R3 is reapplying various techniques for specifically regulated financial institutions and financial markets. Their consortia has roughly 80 members and recently raised over $100M to fill up the financial market infrastructure for their participants. The end goal is to replace reconciliation processes, or the devil of the financial industry.

Check out the Bitcoin.com podcast with R3’s Tim Swanson by streaming the the link below.

https://soundcloud.com/bitcoin-podcast/r3-consortium-improving-bank-to-bank-transfers

What do you think about banks using a distributed ledger? Is R3 bringing something novel and innovative into the mix? Don't forget to share your thoughts in the reply section below and also resteem!  

 

Sort:  

Just taking this opportunity to say "THANK YOU FOR FOLLOWING ME"

Congratulations @berryoc! You have received a personal award!

1 Year on Steemit
Click on the badge to view your Board of Honor.

Do not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - Semi Finals - Day 1


Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes


Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

Congratulations @berryoc! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Coin Marketplace

STEEM 0.15
TRX 0.16
JST 0.028
BTC 68160.40
ETH 2442.97
USDT 1.00
SBD 2.37