Thomson Reuters Unveils Blockchain Tool

Announcements, Blockchain, Group, Innovation | June 15, 2017 By:

Thomson Reuters Corp., owner of Reuters News, is planning to release a tool that will allow their customers to access and utilize data with systems that are running blockchain technology.

Called BlockOne IQ, the tool is designed to work seamlessly with the ethereum and Corda blockchains. Thomson Reuters, which sells news, data, and other information to Wall Street, has ramped up blockchain technology in response to the developments made by its competitors.

BlockOne IQ will be initially released to R3 and Enterprise Ethereum Alliance members and will also be available to developers via the Thomson Reuters Developer Community.

Thomson Reuters director of strategy in innovation and blockchain Sam Chadwick said the idea behind BlockOne IQ is to speed up deployment of blockchain in financial markets. The technology maintains a record of transactions through a network of computers rather than one centralized authority, and was first conceived as a way to trade bitcoin.

“After speaking with our customers, it became clear that there isn’t currently a participant in the blockchain ecosystem that is acting as a trusted source of external data for many of the financial services use cases,” said Chadwick. “At our core, Thomson Reuters provides access to aggregated, high quality data and analytics – two characteristics that play well in an Oracle and smart contract system – so it’s a natural transition for us, and another mechanism to deliver our content to industry participants.”