Two UK banks, Barclays and RBS to leverage R3’s real estate blockchain trial By FX Street

© Reuters.

  • A total of 40 participants have signed up for the trial.
  • Using the blockchain technology in real estate purchases globally could save $160 billion.

Barclays (LON:) Bank and Royal Bank of Scotland (LON:), two of the leading commercial banks in the United Kingdom are reported to be joining hands in R3 for a blockchain trial aimed at streamlining real estate purchases. A total of 40 participants have signed up for the trial that was made possible using a tool developed by Instant Property Network (IPN). IPN is a startup company that utilizes the blockchain platform provided by R3’s Corda.

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