BlackRock, the world's largest investment manager, is piloting a blockchain programme aiming to reduce errors in communications between itself and its custodians. The programme, which the company is calling Aladdin Provider, uses a private blockchain. The firm is planning to roll out a similar programme for its clients if it proves successful. Blockchains are decentralised databases that can be used by anyone with internet access or an Internet connection.
BlackRock, the world's largest investment manager, is piloting a blockchain programme aiming to reduce errors in communications between itself and its custodians. The programme, which the company is calling Aladdin Provider, uses a private blockchain. The firm is planning to roll out a similar programme for its clients if it proves successful. BlackRock is also planning a technology-driven hiring push, looking to add 2,000 technologists to its staff by 2020.