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R3 seeks USD 200 mln from big bank backers

Friday 13 May 2016 00:34 CET | News

New York-based private blockchain consortium R3 has supposedly started seeking investment up to USD 200 million from its members.

R3 is even proposing that backers hold a stake in the company and run it for 10 years.

Earlier in 2016, R3 revealed the first known banking blockchain experiment of its kind that spanned 11 banks globally across four continents. Each bank was connected to an R3-managed distributed ledger underpinned by Ethereum technology and hosted on a virtual private network (VPN) on Microsoft’s Azure, the public cloud platform.


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Keywords: Bitcoin, mining, cryptocurrency, digital currency, online payments, online security, online transactions, R3, banks
Categories: DeFi & Crypto & Web3
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DeFi & Crypto & Web3






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