South Korea’s NongHyup Bank (NH Bank) has joined the R3 distributed ledger consortium.
With the move, NH Bank, a Seoul-based agricultural bank, aims to collaborate with the enterprise-focused group’s other members in fostering developments in blockchain technology.
According to a Business Korea report, an official from the the bank said:
“We will acquire technology by joining the consortium and apply it to various sectors of NH Nonghyup Bank such as the financial and economic sectors.”
The bank will further propose a pilot project that will look to commercializing blockchain technology in collaboration with fintech firms…
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