The R3 consortium – that consists of leading banks and technology firms -revealed within the CIAB Febraban event in Sao Paulo that it’s presently collaborating with Brazilian banks.
Within the event, R3 executives also added that the consortium partnered with Itau and Bradesco banks to form a blockchain-enabled platform for foreign trade & insurance.
The consortium – that recently opened its new work-office in the country -additionally outlined that the Brazilian stock exchange was also employing its Corda platform for the digital identification purposes.
The executive commented on the ongoing developments, outlining that before further expansion and growth, blockchain technology must mature and become secure enough for big companies.
Also earlier this week, CIP, a facilitator of Brazilian banking and financial infrastructure, formally launched its blockchain identification platform via a partnership with IBM employing the Hyperledger Fabric.