Blockchain explained in two-minutes

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The enormous potential of blockchain technology is widely recognised, but how exactly does it work? And what is ABN AMRO doing to explore blockchain’s potential for various kinds of banking activities?

First of all, to understand what blockchain is and how it works, watch this video. ABN AMRO is engaged in a variety of experiments involving blockchain. As Arjan van Os, Head of our Innovation Centre, explains, “Torch is one of a series of ┬áblockchain experiments that ABN AMRO is working on. Torch gives parties involved in a real estate transaction an efficient way to record and share information.”

Recently, Torch was nominated for the NRC Live Fintech Impact Award, earning an honourable second place. And we have joined over twenty parties in forming the Dutch Nationale Blockchain Coalitie, a nationwide collective effort to develop and build digital identity solutions. Meanwhile, ABN AMRO is also a member of innovation group R3, is involved in trade finance experiments, and is collaborating with Delft University and 14 other partners on the world’s first blockchain blockchain applications in the logistics sector.

Are you curious to learn more about blockchain? Just contact the ABN AMRO Innovation Centre.

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