Correspondent bankers have been advised to “fail fast and fail cheap” when it comes to blockchain technology. During the Blockchain and correspondent banking – The way to go? session yesterday, a panel explored the possible use cases and barriers to adoption of blockchain technology – one of the most talked about technologies at this year’s event.
Mark Buitenhek, global head of transaction services at ING (and the man who recommended fast failure) said: “We experiment with fintech firms and new applications in this field all the time.” The Dutch bank is a member of the R3 consortium and has been working on know your customer (KYC) projects.
