We know, that's why this is brief

We know, that’s why this is brief

The world moves fast, so you need a fast read. A round-up of key events to save you time.

PayCommerce, an open cross-border payments network, has completed its real-time, cross-border payment, clearing and settlement testing. It is the first phase of its multi-country global roll out strategy and was done between the US and India.

Production and commercialisation is targeted by end of Q2. The instant payments were delivered using its federated ledger, a blockchain-based technology foundation, integrated into the PayCommerce network platform.

Foxconn and Cisco Systems, and others, have set up a blockchain consortium to develop a shared protocol for internet of things (IoT) applications.

The group also includes Bank of New York Mellon, Gemalto and blockchain start-ups BitSE, Chronicled and Consensys.

Like many others, American Express has joined the Hyperledger Project, an open source project intended to advance blockchain digital technology for recording and verifying transactions.

American Express will contribute code and engineers and joins more than 100 members, including IBM and JP Morgan Chase.