Deloitte, Ulster Bank, AIB & Permanent TSB explore blockchain for improving domestic payments

As reported in The Irish Times, Deloitte’s Dublin based Blockchain Research Lab has successfully completed some tests in Dogpatch Labs, based in Dublin’s CHQ Building in the IFSC exploring how the blockchain could be used to improve the speed and resilience of domestic inter-bank payments, using technology already built in the UK. This has been completed between AIB, Permanent TSB and Ulster Bank.

As any Ulster Bank customers who felt the bank’s downtime a couple of Summers ago will know, the current banking system has plenty of room for improvement, and the new platform uses Ulster Bank’s parent RBS’s Emerald Platform.

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