RATE Group | ING, Citigroup, Shell And ConsenSys Partner to Create Ethereum-Based Platforms
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ING, Citigroup, Shell And ConsenSys Partner to Create Ethereum-Based Platforms

20 Sep ING, Citigroup, Shell And ConsenSys Partner to Create Ethereum-Based Platforms

Posted at 10:54h in Ethereum News by

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In spite of a multi-month tumultuous market, institutions continue to clamor for the implementation of innovative systems and solutions that are based on blockchain technologies.

15 Firms Enter A ConsenSys-backed Blockchain Initiative 

On Wednesday morning, a media embargo on one of the most notable blockchain-related developments of this year was finally dropped. As per a short, but sweet four-page document, entitled “Industry Players and Banks Join Forces to Launch Blockchain Platform to Transform Commodities Trade Finance,” 15 of the “world’s largest institutions,” along with blockchain startup ConsenSys, have joined hands to make a collaborative foray into the enterprise-level blockchain platform space via a new firm called komgo SA.

Although many questioned the document’s validity at first, due to a seemingly “dubious website” linked to this venture, Bloomberg, Reuters, and ConsenSys itself have since corroborated this unexpected, yet welcomed development.