SIA, the leading European hi-tech company in the payment services
and infrastructures sector, and Quant Network, a UK-based
pioneering technology company, have signed a partnership agreement to
explore blockchain interoperability and the creation of agnostic
cross-platform applications and services for banks and financial
institutions.
The first interoperability tests will be executed on R3’s Corda and
private Ethereum platforms.
The partnership aims to integrate Quant Network’s blockchain
operating system Overledger into the SIAchain infrastructure to
enable interoperability, one of the biggest challenges and unmet
needs faced by the financial industry to develop and implement
blockchain and Distributed Ledger Technology based applications spanning
different technologies.
SIAchain is a private infrastructure leveraging on 570
European network nodes within SIAnet – the fiber optic network with
high-speed and low-latency stretching over 186,000 kilometres – that
supports financial institutions, corporates and public administration
bodies in developing and implementing, in a secure, protected way, innovative
applications based on blockchain technology.
The SIAchain infrastructure makes available a series of business
applications to meet the requirements of specific communities –
guaranteed by SIA – of registered, approved members, in a
context of transparency, confidentiality and security.
“Since the European launch of our private infrastructure SIAchain, we
are at the forefront of innovation in blockchain technology with the aim
of supporting financial markets with a high-performance and secure
architecture and a clear governance model. We actively continue
on our path of innovation and the achievement of a fully interoperable
blockchain network is the foremost objective we want to reach with the
collaboration of Quant Network and its disruptive vision on DLT,” says
Daniele Savarè, Innovation & Business Solutions Director, SIA.
“We’re pleased to collaborate with SIA to explore how Overledger can
enable financial institutions on SIAchain or part of SIAnet to benefit
from cross-platform and interoperable blockchain applications to embrace
new business models, improve operational efficiencies and deliver new
innovation to customers,” commented Gilbert Verdian, CEO, Quant
Network.
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