Banking Giants Start to Use Blockchain Technology to Backup Data & Process Trans...

Banking Giants Start to Use Blockchain Technology to Backup Data & Process Trans...

$82 billion banking giant Morgan Stanley and leading financial institution Bank of New York Mellon (BNY Mellon) are u...

Receive all Cointelegraph news immediately in Telegram. The Cointelegraph $82 billion banking giant Morgan Stanley and leading financial institution Bank of New York Mellon (BNY Mellon) are utilizing blockchain technology-based platforms to maintain backup records and process transactions. $82 bln banking giant Morgan Stanley and leading financial institution Bank of New York Mellon (BNY Mellon) are utilizing Blockchain technology-based platforms to maintain backup records and process transactions. Earlier this week, several publications including Business Insider obtained a note from Morgan Stanley that explained the intricacies of its Blockchain platform such as its structure and protocol. Short for Broker Dealer Service 360, the BDS360 Blockchain platform of Morgan Stanley has been operating as a duplicate backup ledger to the settlement layer of Morgan Stanley’s banking infrastructure. According to Morgan Stanley, the BDS360 Blockchain platform has been operating since March of 2016. Through the utilization of cryptographic signatures and timestamps, the bank relied on Blockchain technology to backup the settlement records of transaction and the transfer of assets managed by Morgan Stanley’s financial network... Read more (2 min reading time!)

Found in tweets

Banking giants use #blockchain to backup data & process transactions https://t.co/M8znge0mQm @BourseetTrading… https://t.co/IYm8D2SvWu
Miguel Selas
Miguel Selas