Thomson Reuters Becomes First Data Provider to Join R3 Blockchain Consortium

Thomson Reuters (NYSE:TRI) has enlisted its services to help advance the use of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term technology in the financial services industry – the group’s latest initiative will see it join a composite of leading financial institutions that are already working to utilize the technology that helps underpin Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term into financial markets, according to a Reuters report.

The use of blockchain technology is hardly a novel concept, however its use, scope, and affinity has grown in recent months, buoyed by the support of several leading venues. The addition of Thomson Reuters to this panel of companies is also huge, namely as it will constitute the first major data and technology provider to join the consortium, which presently stands at over fifty-five banks and other financial institutions.

Unified Push

R3 is a blockchain technology company that helps lead a consortium of financial companies in research and development of blockchain usage in the financial system. The group is headquartered in New York City and was originally launched in 2014 by David Rutter. The consortium has its roots in 2015, which made the adoption of blockchain technology its primary goal.

The advent of blockchain technology could revolutionize markets, given its unique potential to foster a shared database in a transparent manner. With even more backing from high profile companies, the group has made sizable leaps and bounds in recent months.