Irish Funds, Deloitte Complete Blockchain for Regulatory Reporting Proof-of-Concept

The two organizations developed their proof-of-concept, RegChain, with the participation of five major institutions.

 Cillian Leonowicz
Cillian Leonowicz, Deloitte

Last week, the Irish Funds Industry Association, along with Deloitte Ireland, announced the conclusion and success of their blockchain project, which was supported by of some of the largest asset management firms in Europe, including Deutsche Bank, Metzler, Northern Trust and State Street.

The proof-of-concept, which lasted eight weeks, tested the application of distributed-ledger technology and its functionality for the capturing of transactions, the management of reporting with smart contract