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R3 adds Banco Bradesco to blockchain consortium

First Published 29th June 2016

R3 grows Latin America footprint with addition of Banco Bradesco to distributed ledger consortium.

Osasco, Brazil - Brazil based Banco Bradesco has joined financial innovation firm R3's partnership to design and apply distributed and shared ledger-inspired technologies to global financial markets.

Bradesco will be collaborating with over 50 financial institutions to develop commercial applications for the financial services industry that leverage the appropriate elements of distributed and shared ledger technology.

R3 recently unveiled Corda, its shared ledger platform specifically designed to record, manage and synchronize financial agreements between regulated financial institutions. It is heavily inspired by and captures the benefits of blockchain systems, without the design choices that make blockchains inappropriate for many banking scenarios.