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IBM, Top Australian Banks Execute Country’s First Blockchain Bank Guarantee – CoinDesk – CoinDesk
Lygon, a joint venture between several banks and IBM, said its blockchain technology can be ported to other types of payment guarantees.
A digital bank guarantee has just been executed over a blockchain system in Australia, in what’s being called a first for a commercial bank product in the nation.
Lygon, a blockchain-based platform and joint venture between the ANZ, Westpac and Commonwealth banks, shopping center operator Scentre Group and IBM, announced the “milestone” news Wednesday, saying it began trialing its technology mid-way through 2019.
The venture’s objective was to bring the 200-year-old paper-based bank guarantee process…
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