The “BlockOne IQ” is expected to speed up blockchain adaptation in financial markets.
Mass media company Tomson Reuters, the company behind the international news agency Reuters has introduced a new tool named “BlockOne IQ”. The tool allows users to plug into its market data with their blockchain systems.
Released on Wednesday, the tool is intended for clients who use Thomson Reuters` data on trading platforms that rely on smart contracts on the Ethereum blockchain and R3`s Corda “distributed ledger platform”. These are Wall Street clients who use the mass media organization to gather data, news and information.
The “BlockOne IQ” is expected to speed up blockchain adaptation in financial markets, as Sam Chadwick, Thomson Reuters’ director of strategy in innovation and blockchain, said in an interview with Reuters (uk.reuters.com).
“A lot of the financial use-cases rely quite heavily on knowing and including real-world data, but there is really no way to do it.”, as he explained.
Tools like “BlockchainOne IQ” allow blockchain technology to be implemented on an industry scale, as he added.
It is to be noted that Thomson Reuters has recently joined the global blockchain consortium led by R3. In 2016, R3 had already developed its blockchain software Corda. The latter is to launch banking solutions under the supervision of 70 of the world`s biggest banks, which are taking part in the consortium. It iwas open-sourced through the Linux Foundation-led Hyperledger Project, as the online media wrote at the time.
The data and media giant Thomson Reuters has now opened up its data to blockchain platforms, a move that may give them an advantage over competitors like Bloomberg LP, as the article concluded.