Royal Bank of Canada is looking at different use cases for the blockchain tech

Announcements | February 17, 2016 By:

Linda Mantia, Royal Bank of Canada‘s EVP of digital, payments and cards, revealed that the bank is looking at different use cases for the blockchain technology, with tests focused on applications for capital markets, cross-border payments and smart contracts.

In November of last year, RBC announced that it was implementing a distributed ledger loyalty points program for its customers, in order to get its clients familiar with the novel technology.

“If you look at every major advancement enabled by technology, there’s always hype. Eighty percent of the money won’t make it, but the last 20% can be massive,” said Mantia.

The Royal Bank of Canada is the largest financial institution in Canada.