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Itaú becomes the first Latin American bank to join the R3 Blockchain Consortium


According to recent reports, the bank has just announced that it has signed a partnership with the #R3BlockchainConsortium, to join the project, and work on developing and implementing #Blockchaintechnologies .

In a recent press statement, representatives from the bank stated that: “We have joined the R3 consortium in order to contribute to the international drive for development and implementation of innovative solutions based on distributed ledger technology. We are anxious to operate together with R3 and other financial institutions in Latin America to expand the benefits that #distributedledgertechnology offers”.....

#Blockchain makes new business models possible and allows for more agility, efficiency and traceability of transactions, says Itaú’s press release published by Finextra. According to Márcio Schettini, Itaú’s Director-General for Technology and Operations, adopting blockchain means being on the cutting edge of progress and can be useful not just for the banking system but for its customers as well.......

For those that do not know, the R3 Blockchain Consortium serves the scope of bringing together veterans of the financial market, alongside with blockchain and #digitalcurrency specialist, who can collaborate and carry out research, but also engineer new products and services that will shape our world’s financial future.....

To put it in the words of David Rutter, CEO of the consortium:

“It is a pleasure to welcome Itaú Unibanco to expand our global network of partners in Latin America. Distributed ledger technology has the potential to break down geographic barriers and to unite these counterparties worldwide in a more efficient, secure and transparent financial structure. Itaú will be an important partner for R3 as representative for the region.”....

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