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Cryptocurrencies

RBS to demonstrate blockchain-based proof-of-concept in 2016

Friday 16 October 2015 | 01:44 PM CET

Royal Bank of Scotland (RBS) has revealed plans to demonstrate its blockchain-based proof-of-concept at the beginning of 2016.

John Lyons, head of strategy and commercial services for RBS's payments business, said the bank could potentially trial and launch the blockchain-based pilot in 2016.

More recently, RBS – which partnered with distributed ledger startup R3CEV – made the headlines after its technology chief said the bank had experimented with its own in-house cryptocurrency; using it to trade and settle between the group's banks.

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