The institute is a financial services research group backed by the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which provides a network for global financial institutions to send and receive information about financial transactions.
The grant follows the SWIFT Institutes call for information on the risks associated with Bitcoin as a digital currency in 2014 and comes amid a broader shift in emphasis on the technologys use cases.
In its call for applications, SWIFT cites experiments currently in operation at UBS Bank and Nasdaq as evidence of the increasing interest in harnessing blockchain technology for more enterprise-level financial needs.
SWIFT indicated it is interested to learn what the securities transaction lifecycle would look like on a blockchain, whether it would involve intermediaries such as central securities depositories (CSDs) and if any of todays more widely used blockchains could provide a viable solution to the needs of global securities processing.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now