Jeff Henderson, chief information officer of TD Bank Group, one of 11 banks that conducted a test of a private blockchain built with Ethereum open-source tools and running on Microsoft Corp.’s Azure cloud. TD Bank

Eleven banks in the R3 consortium, including Barclays, Wells Fargo and UBS, tested a private blockchain using open-source tools and Microsoft’s Azure cloud, exchanging tokens among offices in North America, Europe and Asia over five days. “It did prove that in a private, controlled environment, the banks can collaborate,” said TD Bank CIO Jeff Henderson.