BNP Paribas, Wells Fargo, ING, Macquarie and the Canadian Imperial Bank of Commerce (CIBC) have joined 25 other financial institutions in the global blockchain development consortium R3CEV. Most of the world's biggest banks, with the exception of Chinese lenders, have now signed up to the initiative, which is led by New York-based financial technology firm R3. The consortium, which has been working on a number of projects related to distributed ledger technology, including one that aims to create an open source version of bitcoin, said it was "pleased to announce its
BNP Paribas, Wells Fargo, ING, Macquarie and the Canadian Imperial Bank of Commerce (CIBC) have joined 25 other financial institutions in the global blockchain development consortium R3CEV. Most of the world's biggest banks, with the exception of Chinese lenders, have now signed up to the initiative, which is led by New York-based financial technology firm R3. Recently, R3 has recruited several banking and technology "heavyweights", including Chief Technology Officer, Richard Gendal Brown, who was IBM's former Executive Architect of Banking Innovation; James Carlyle, the former Barclays Chief Engineer for Banking Architecture; and Bitcoin core developer Mike Hearn.