The Italian Banking Association (ABI) has announced that the country's financial institutes will be implementing distributed ledger technology (DLT) for its matching algorithms as of March 2020, Finextra reports.
Such expansion is a part of the Spunta Project which is a program managed by ABI Lab, the association's research and innovation arm, designed to implement DLT within the country's interbank processes.
It is believed that integration of the blockchain tech should result in full transparency of the transactions between financial institutions.
Earlier it was reported that the European subsidiary of Samsung SDS is about to expand its partnerships with various industrial players to facilitate the convergence of its enterprise blockchain platform with other technologies and increase utilization.
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