London-based startup
Clearmatics is running an enterprise blockchain
hackathon hosted by Barclays. It aims to find the best applications for its interoperability protocol Ion, particularly for Hyperledger Fabric and Ethereum to communicate. The hackathon is being held at the Barclays fintech hub Rise in London on 5-6 February. Barclays previously hosted a popular hackathon to explore the use of
ISDA’s new derivatives standard for blockchain applications.
Many financial and enterprise applications are being built on a handful of blockchain protocols: Ethereum, Hyperledger Fabric, Corda, Digital Asset and MultiChain. The concern is that blockchain networks will create large silos of data. For example, there are a number of
trade finance blockchain networks. And they need to both talk to each other and talk to the supply chain networks targeted at specific industries.
Utility Settlement Coin’s interoperability need
In Clearmatic’s case, they’re the technology team behind the Utility Settlement Coin (USC) which was jointly conceived with UBS back in 2016 and is expected to launch this year. The project is for an institutional stable coin backed by central bank deposits and involves 17 major financial institutions.
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