The Italian Banker’s Association (Associazione Bancaria Italiana or ABI) has made the latest step in preparation for the launch of its “Spunta” reconciliation blockchain. The platform which aims to automate the reconciliation of interbank accounts has been successfully tested with a year’s worth of transactions for 200 banks.
Thirty-five nodes or servers were involved in the test that supported uploading 200 million pieces of data and allowed the response times to be tested.
The project is coordinated by ABI Labs and includes 18 banks that account for 78% of the staff employed in the Italian banking sector. ABI Labs is assisted by SIA, the major networking company that supports large parts of SEPA and
NTT Data which has developed the application. R3’s Corda technology underpins the platform.
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