The company has joined the group after seeing many banks and finance companies collaborate to explore the technology. Recent members include Banco Bradesco, a Brazilian banking and financial services company, Absa Bank, a South African bank, and the financial arm of Toyota Motors, Toyota Financial Services.
Thomson Reuters’ representatives said in a statement that blockchain technology offers enormous opportunities for the company and for its customers. The company’s goal is to collaborate together with the consortium and customers in key industry discussions to be able to shape the future of financial transactions.
Thomson Reuters has spent much of the past two years conducting an exploration of blockchain applications on its own, and its entrance into the R3 consortium will likely compliment those efforts according to Coin Desk.
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