Raiffeisen now in R3 too

Another bank needs to know more about the blockchain in order to implement it not too late and joins the powerful R3 alliance, which already has Bank of America and other wealthy organizations on the list of members. What makes this news more interesting is that Raiffeisen is the first Austrian bank to join R3.

“By joining R3 we will be able to exchange and collaborate with peers, which will substantially boost the speed, security and usability of our own blockchain innovations. The usage of technology platforms such as ‘Corda’ allows us to gain extensive know-how in the underlying infrastructure of future commercial blockchain applications,” tells Michael Hoellerer, Plenipotentiary of RBI, explaining why exactly R3 matters and what useful can be found there if your bank is a member.

Previously, the Russians (namely - Alfa-bank) have, too, demonstrated an interest in joining R3 and participating in its projects. If one looks at the members list, one can find that most organizations there are either American or European, with much less members from Asia. This means we can soon see some powerful Asian banks deciding to enter as well.