11 world banks are testing decentralized blockchain technology

There are constant reports from the world about regulations or the creation of digital currencies of central banks. Today, however, we have learned relatively interesting information that 11 world banks are testing decentralized blockchain technology. Startup Finteum published a report that banks such as Bank of Ireland, Deutsche Bank, Banca Mediolanum, and 8 others took part in their trial. Finteum co-founder Brian Nolan also commented on the news.

“While every bank treasury team is focused on controlling costs, efficient optimisation of liquidity buffers is often overlooked by senior management.”

The goal of the Finteum startup is to help banks with a tool that manages intraday liquidity beyond reserves and payments. Although we haven’t seen huge market growth in recent weeks, it’s very encouraging that really big things are happening in the background.