Investment banking subsidiary in Canada ‘BMO Capital Markets’ founded back in year 1987 recently announced its plan of partnership with the Ontario Teacher’s Pension Plan based on blockchain.
The trial seesthe twocorporationsregistera set offinancial gainissuingon a blockchain platform, in an attempt to estimate the abilities of implementing blockchain technology for the purpose. The Company announced a statement mentioning:
“ThedealingenclosedBank ofMontreal as the issuance and Ontario Teachers’ as the purchaserof a CDN $250 Mln in 1-year floating rate deposit note,creatingitthe primaryCanadian dollar mountedfinancialdistributordemonstrating the usability of blockchain platform,”
Thisframeworkpermitsparticipantsto look atthedealingand verify the accuracy of the term sheet and payment amounts beforethe safetyreaches maturity. It would further result in reducingthe prices related tocompliance andmonetaryreporting, amongalternativeareas too.
Ontario Teachers’is aremarkable ally, given the demographic it envelopes. The Managing director of the company ‘Audrey Gaspar’ aforementioned in a statement:
“Ontario Teachers’ is committed to exploring technology and innovationsthat mayimprove our ability to serve our members better.”