Axoni CEO Hails Blockchain 'Success' in 85 Test Cases

Greg Schvey, CEO of Axoni, discusses the recently completed blockchain test for credit default swaps conducted with four banks.

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Actual, tangible proof of the successful use of blockchain technologies is a bit harder to come by, but that was the case with Axoni, which saw a 100 percent success rate across 85 test cases looking at the capabilities of blockchain and smart contracts to manage the post-trade lifecycle events of standard North American single-name credit default swaps (CDSs).

Bank of America Merrill Lynch, Citi, Credit Suisse and JPMorgan were the four banks involved in the tests, along with the Depository

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