New Partnership Formed to Study Blockchain in Financial Services | Auto Finance News | Auto Finance News

New Partnership Formed to Study Blockchain in Financial Services

Las VegasLAS VEGAS — The Structured Finance Industry Group (SFIG) and the Chamber of Digital Commerce yesterday announced a joint effort to study the potentials of distributed ledger technology, which will commence with a series of blockchain symposiums at this year’s SFIG 2017 conference.

In addition to the educational workshops being held in Las Vegas this week, the companies co-sponsored a white paper entitled “Applying Blockchain in securitization: opportunities for reinvention,” prepared by Deloitte & Touche LLP, which will also participate in blockchain sessions today.

The partnership can create new “forward-thinking” opportunities while enabling the structured finance industry to stay “fully informed of how technology is impacting their business,” Richard Johns, executive director of the SFIG, said.

Yesterday’s news comes on the heels of Daimler AG’s announcement that it had joined the open-sourced Hyperledger Project last week, a collaborative cross-industry effort created to advance blockchain, to learn more about the technology.

In a similar effort, Toyota Financial Services joined New York-based startup R3CEV LLC’s blockchain consortium in July 2016, to explore distributed and shared ledger technology for potential applications in auto financing.

AFN will update this post, as the blockchain sessions are held throughout the day.

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