The Italian Banking Association has proposed the integration of distributed ledger technology ( DLT ) into the internal settlement processes at domestic banks . The deployment of blockchain is also set to improve transparency in transactions between banks and efficiency of communication between counterparties. The blockchain - based solution will seek to improve the efficiency and efficiency of banking . The initiative is part of the so - called Spunta Project led by Linden Lab , which tested a blockchain interbank solution based on R3 's open - source software platform .
The Italian Banking Association has proposed the integration of distributed ledger technology ( DLT ) into the internal settlement processes at domestic banks . The blockchain - based solution will seek to improve the efficiency and efficiency of banking . The initiative is part of the so - called Spunta Project led by Linden Lab , which tested a blockchain interbank solution based on R3 's open - source software platform .