Natixis Joins R3's Blockchain Consortium
Natixis has become a partner with technology firm R3 to develop blockchain technology throughout the banking sector and in implementing market standards. This financial sector initiative will help the creation of common banking standards based on this technology, endorsed by the global financial actors.
Blockchain technology, which is based on a decentralized infrastructure paradigm, is poised to have a major impact on global finance’s future ecosystem. It will make data and transaction exchanges much more fluid, for example by trimming the number of intermediaries involved, thereby simplifying banking infrastructure. It is also expected to enhance system security, authenticity and resilience while also reducing transaction costs.
Natixis will collaborate with the R3-led consortium to develop shared protocols, build architecture models and write specific transactional constructs that span across the various activities of the banking world.
This collaborative effort falls squarely within Groupe BPCE’s digital strategy which seeks to capitalize on developing new technologies to improve the nature and quality of services to clients in France and internationally, irrespective of whether they are individual, professional or institutional clients.