What’s ING and the R3 Consortium’s view on blockchain technology?

Mark Buitenhek is responsible for Global Transaction Services Sales, Payments and Cash Management, Products and Channels, Trade Finance Services, Working Capital Solutions, Securities Services, and Commercial Finance with Transaction Services partners, Client Services, Operations and IT at ING. He is also a member of the R3 consortium.

Interview

In an interview with Carlien Roodink at the Dutch Blockchain Conference he explains what his bank ING and the R3 consortium is doing with the blockchain technology. R3 is a blockchain technology company that leads a consortium of 45 financial companies in research and development of blockchain usage in the financial system. ING joined the consortium in november 2015.

What opportunities do they see? Why do they invest in blockchain and what are the risks and the big challenges?