Blockchain technology provider Chain has released an open source blockchain protocol developed over the last 18 months through partnership with various financial services firms.
Capital One, Citigroup, Fidelity, First Data, Fiserv, Mitsubishi UFJ, Nasdaq, State Street and Visa contributed to the development of the Chain Open Standard.
Jim McCarthy, executive vice president, Innovation & Strategic Partnerships at Visa, commented:
“Visa and Chain have been collaborating to explore how a blockchain architecture can operate at Visa’s scale to the benefit of our clients. The Chain Open Standard is the culmination of many months of iteration and problem solving, and we are pleased to be playing an ongoing role in that process.”
Brad Peterson, Executive Vice President and CIO at Nasdaq, added:
“Nasdaq has been pleased to participate in the development of the Chain Open Standard through a variety of use cases, including private market securities, proxy voting and clearing. In particular, we are excited to be collaborating with our market technology clients on these developments and look forward to our continued innovation in this area.”