GFT is utilising the Google Cloud Platform to rapidly deploy the code developed by its client development teams into GFT’s blockchain incubator to simulate real-word scenarios.
In a statement on the partnership, GFT explained that “it is possible to simulate additional banks coming online to a distributed ledger, then rapidly gather and interpret the data using Google BigQuery”.
“Disruptive business models, underpinned by distributed ledger technologies, typically enable banks that have an ‘untrusted’ relationship, to communicate with trust, but without a ‘middleman’ who traditionally provides the ‘trusted’ confirmation,” the statement continued.
“This brings great potential to overhaul many of the core issues that have hindered the financial industry, such as costly and complex legacy infrastructure.”
GFT recently created a test environment for a distributed ledger domestic and international payments solution on the Ethereum platform, working with a large European bank.
Nick Weisfeld, head of GFT’s blockchain and data practices, said: “Working with Google has enabled us to create a test environment for a new Royal Bank of Scotland application using real-world volumes, providing them with valuable information on how their solution operates detailed in a new technical paper.”
“This ability to test at scale has enabled our client to bring their distributed ledger initiative out of the lab and into the real-world in record time, creating an industry-leading solution.”
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