Wall Street Whales Test Blockchain Waters: Goldman Sachs, BNY Mellon in Pilot Major Wall Street whales, including Goldman Sachs, BNY Mellon, and
Cboe Global Markets, have successfully concluded a large-scale pilot test utilizing blockchain technology on the Canton Network. The series of pilot tests successfully concluded on the Canton Network makes it one of the
largest-scale experiments utilizing blockchain technology in
capital markets. Nearly a year after its launch, the Canton Network, a blockchain network spearheaded by
leading financial institutions such as Goldman Sachs and BNY Mellon, has undergone a series of tests. The network was launched in May last year, with testing slated for July 2023. It has now commenced its testing phase. At the time of the network’s inception,
Microsoft and Deloitte were reported to be participating partners.
According to a report by Bloomberg on March 12, this recent testing phase represents one of the most comprehensive experiments in the
financial industry. The firm revealed significant strides in its blockchain interoperability, with 155 participants from 45
prominent organizations showcasing successful settlements across 22 permissioned blockchains linked to its ledger.
The firm outlined the
extensive trial period, which lasted four days and included the opportunity to engage with 22 decentralized applications
(dApps). Institutional investors participated in over 350 simulated transactions using distributed ledger technology (DLT) in
various areas, such as tokenized assets, fund registries, digital cash, repo, securities lending, and margin management.
