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Italian Banks Start Exchanging Interbank Transfer Data On Corda

85% of Italian Banks started exchanging interbank transfer data on R3’s Corda blockchain in order to speed up the process of double-checking transaction logs so let’s find out more in our cryptocurrency news sites. The head of innovation at the Italian Banking Association said that the interbank reconciliation process and the technology underlying the exchange data has to change. Reconciliation takes a lot of our time and was quite unpredictable as the average time for reconciliation was between 30-50 days. On Corda, reconciliation is completed in one day. The Interbank Agreement from the Italian law governs interbank transfers that were…

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