Standard Bank launched its own Hedera Hashgraph node – Bits Media

Standard Bank of South Africa launches its own node in the Hedera Hashgraph network, to use blockchain and DLT for international transfers.

Head of Innovation at Standard Bank Group Jan Putter (Ian Putter) reported, that the bank became a member of the Governing Council Hedera Hashgraph decentralized platform for the introduction of blockchain at the corporate level. The participants of the Council are also Google Corporations, Lg и ibm. Standard Bank will be one of the first African banks, which will apply the distributed registry technology (DLT) For cross -border translations.

Putter believes, that the introduction of innovations in payment systems will create conditions for conducting faster and economical transactions not only with African banks, but also with partners from other continents. Putter also noted the growing interest of banks in state digital currencies. In his opinion, This indicates the development of technologies based on DLT, which can radically change current business processes.

“We tested the evidence of the concept and cooperate with those, who is ready to use the blockchain to scaling their activities. Our key task is to continue research and experiments with DLT, as well as use existing solutions to increase the efficiency of interbank payments ", - said Putter.

According to the General Director of Hedera Mansa Harmon (Mance Harmon), Many African banks are interested in using blockchain and DLT. The needs of their customers are constantly changing, Therefore, financial organizations are ready to implement innovative decisions, to keep existing customers and attract new. Harmony added, that besides the financial industry, Great interest in blockchain is observed in the field of healthcare, Energy, logistics and identification of data.

Recall, that last year the Australian Electronic Payment System EFTPOS also announced its readiness to test the Hedera Hashgraph blockchain for micallors.