Boston-based fund manager Fidelity Investments has joined the blockchain consortium IC3, alongside Cornell University, University of California at Berkeley, University of Illinois at Urbana–Champaign, the Technion, IBM and Intel. The consortium, which is working on a distributed ledger technology called Ethereum that will allow for more efficient data storage, says it aims to create an open source platform where developers can build applications using "What IC3 brings is that academic computer science legacy that can help us explore how this technology can be applied," said Hadley Stern, senior VP at Fidelity Labs.
Boston-based fund manager Fidelity Investments has joined the blockchain consortium IC3, alongside Cornell University, University of California at Berkeley, University of Illinois at Urbana–Champaign, the Technion, IBM and Intel. Fidelity will be examining use cases involving settlement of repo transactions. "What IC3 brings is that academic computer science legacy that can help us explore how this technology can be applied," said Hadley Stern, senior VP at Fidelity Labs.