London Financial Innovation Organization is about to establish a blockchain technology laboratory

The London-based financial innovation organization Innovate Finance plans to set up a laboratory dedicated to exploring blockchain technology, with the aim of discovering the potential for practical applications of blockchain technology and ultimately using it to improve the service levels of financial companies.

The Financial Innovation Organisation is a self-governing independent organisation that aims to drive the development of FinTech in the UK. Since its establishment in 2014, the Financial Innovation Organisation has attracted more than 120 members.

One of the organization's chief sponsors is the City of London Corporation, which manages the world's most famous financial center, the City of London. The City of London is not only the economic heart of the United Kingdom and the City of London, but also a leading financial, commercial and economic center in the world. The City of London Corporation is an organization that supports and promotes the City and its businesses.

劳伦斯•温特迈尔, CEO of the Financial Innovation Organization, said in a statement:

“We are excited to see our members openly collaborate to contribute advanced applications to society. If we can use the Lab to develop a set of open standards for blockchain technology for financial services, we will be one step closer to driving mass adoption of this groundbreaking technology.”

The blockchain technology laboratory will be established in October this year, and the first batch of prototype applications is expected to be developed by the end of this year.

According to the company’s statement, developers participating in the lab will try to develop real-world use cases using blockchain technology and explore new anti-money laundering techniques and new know-your-customer principles for the benefit of both customers and regulators.

Earlier this year, Swiss investment bank UBS also announced that it would launch its own blockchain research lab in London.