Thompson Reuters has joined the blockchain mega-consortium R3CEV (R3), placing itself among the ranks of a host of global banks and firms. It is hoped that the company will provide “insights from its work with customers” to the consortium and help drive its innovation needs forward. Becoming a part of R3 is “another important step for Thompson Reuters to continue as an active participant in this emerging technology space,” writes the company.

“Our network of members continues to grow and diversify at a rapid rate, and the addition of a major market data and technology provider is another significant milestone for R3,” says David Rutter, CEO of R3, which recently released its shared ledger platform Corda.

“Distributed and shared ledger-based solutions hold the potential to transform the technology used by financial market participants to execute trades and access market data, and Thomson Reuters’ insight and expertise in this field will be an invaluable asset in our collaborative lab environment.”

Thompson Reuters will be joining the other member banks and companies in pooling resources at R3’s Lab and Research Centre. “Thomson Reuters has been collaborating with customers on blockchain and distributed ledger initiatives and powerful proof-of-concept projects for some time now,” adds Mark Rodrigues, Managing Director, Strategic Customers and Solutions at Thomson Reuters. “The opportunities afforded by this emerging technology are enormously exciting for us and for our customers, and our goal with R3 is to collaborate together with the consortium and our customers in these key industry discussions as we shape the future of financial transactions.”

By Alex Hamilton

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com
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