The Credit Suisse and ING based Dutch banks in Switzerland successfully completed the first live transaction of 25 million euros According to Credit Suisse's March 1 press release, the securities of the R3 Corda Blockchain platform

Credit Suisse and ING transferred the legal ownership of Dutch and German government securities through of HQLAX Digital Collateral Records (DCR).

The transaction was executed by transferring the ownership rights to the DCR HQLAX-related accounts containing "Baskets of Securities", instead of the traditional method of transferring the individual securities themselves.

The press release writes that this use of DCRs for the transfer of securities may "help improve transparency", mitigate systemic risk, reduce operational risk and help financial institutions manage capital more effectively. "

The Credit Suisse press release mentions that the law firm Clifford Chance also participated in

Ivar Wiersma, head of the Wholesale Banking division Innovation of ING, said in his press release:

"What is really different, is that [using digital ledger technology] gives the regulator the opportunity to have direct access to the general ledger and to see the complete digital history of the transaction, from where it originates to its property and attributes. In the OTC environment, which is not traditionally so transparent, it could make the entire financial system more resilient.

Charley Cooper, chief executive of R3, told Reuters that the transaction was "much more than a proof of concept in a fenced lab."

"These are regulated institutions in a real market and it is a unique demonstration that blockchain solutions are

According to Reuters, a representative of the United States, ING Blockchain initiative said that the application will be online by the end of the year.

Amazon Web Services (AWS) announced a partnership with R3 in December of last year for the use of Corda platform distributed registry technology. In November of last year, ING issued a proof of zero knowledge that can confirm the accuracy of a transaction without losing its anonymity

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