R3 Consortium – A New Level of Financial Transparency

Finding Genius Podcast

Richard Jacobs

Medicine, Health & Fitness

4.4 • 1K Ratings

🗓️ 6 July 2017

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

The word “Blockchain” gets thrown around a lot these days. Used so often—and in so many different contexts—it’s hard to exactly define what it actually means. In short, it’s a buzzword. As Tim Swanson of the R3 Consortium attests, the word doesn’t mean a whole lot beyond “something magical”: the magical super-technology that fits into every excited sentence you can come up with about fintech.
For the purposes of the interview, Swanson defines the word “Blockchain” as a kind of distributed ledger: a data structure that’s “cryptographically secured,” “tamper resistant,” and “stored in the cloud.” Importantly, this is to say that Blockchains are only one form of distributed ledger.
Technically, what R3 is building isn’t a Blockchain per se; it’s a different kind of distributed ledger R3’s raised 100 million dollars for. It’s a lot of money. That’s what it takes to deploy a distributed ledger at scale, “for regulated financial institutions and capital markets specifically.”
Listen in to learn more about R3, and hear more of Tim Swanson’s insights on fintech. Be sure to subscribe, review, and if you can, donate some BitCoin to the cause.

Transcript

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0:00.0	Welcome to Almost Here, Almost Here, Round the Corner of Future Technology Podcasts with Richard Jacobs.
0:08.0	Future Technologies Boys To Transform Our Lives, for better or worse, are the focus of this podcast.
0:13.6	Almost here, means these technologies are now here and
0:16.7	starting to be used.
0:18.2	We're just around the corner.
0:19.7	From Bitcoin to artificial intelligence,
0:22.0	3D printing, blockchain, virtual reality, and more.
0:26.0	Hi, this is Richard Jacobs with Future Tech Podcast.
0:29.0	Today I've got a great guest, Tim Swanson,
0:32.0	part of the R3 Consortium.
0:33.4	Tim, how you doing?
0:34.4	Doing great, thanks for having to hear, Rich.
0:37.4	Yeah, would you mind giving a listener's brief intro and then we'll get into what
0:41.4	R3 does and you know, and you'll work with them.
0:44.1	Sure so my position actually is a director of market research I'm based in the
0:50.4	Bay Area and actually is this a current, the only guy on the West Coast for our team,
0:55.6	primarily because all of our customers are basically New York, London, and Singapore,
1:01.5	and a few other cities. we are major customer out here is
1:05.3	Wells Fargo and actually they're an investor too which can lead into I can explain
1:10.2	how this consortia actually works but my role role within the company, I wear a couple of hats,
1:14.8	but the primary one is, I speak to a lot of different companies
1:19.2	big and small startups primarily
	...

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