HSBC is building a custodial platform to keep records of $20 billion worth of assets. The permissioned blockchain will replace previous paper-based storage and accounting, reported Reuters.
The platform, which will be called Digital Vault, is one of the biggest permissioned uses of blockchain by a large-scale bank. However, HSBC will not use any of the already available public blockchains.
Blockchain has been offered as a solution to immediate settlement and cutting out middle men in transferring and recording ownership...