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Wine Boxes to Whatsapp: How South Africa's Banks Are Going DIY to Test EthereumCoindesk |
Members of six African banks reportedly met yesterday to discuss the next steps in their ongoing effort to connect aspects of the South African banking system via a private version of the ethereum blockchain
After some early internal work within Barclays subsidiary, Absa, including logging archived payments on a blockchain and writing simple ethereum-based smart contracts
Absa is now "fully integrated" with the ethereum blockchain, he says, and most of the other banks are, too, meaning that when they start running smart contacts, they will be able to begin transacting in real-world assets.
"We think we can operationalize [the loans] on a distributed ledger," he said. After successfully connecting the banks to each other via a private version of the ethereum blockchain, Baker said the group set about deciding how to build the MVPs of their smart contracts.
