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Northern Trust gets two U.S. patents for distributed ledger technology

Jun. 05, 2018 7:39 AM ETNorthern Trust Corporation (NTRS) StockBy: Liz Kiesche, SA News Editor
  • Northern Trust (NASDAQ:NTRS) gets two U.S. patents for distributed ledger technology inventions for a range of fund administration activities. The patents are for:
  • Digital identity management -- systems and methods for digital identity management and permission controls within distributed network nodes.
  • Digital meeting management -- systems and methods for generating and maintaining immutable digital meeting records with distributed network nodes.
  • Northern Trust’s blockchain development is part of a broader digital strategy for asset servicing which includes robotic processing, artificial intelligence and the proactive deployment of emerging technologies, the company says.
  • “We have developed a number of blockchain innovations that may be applied to multiple business activities and product offerings, with private equity fund administration being only one example of many potential use cases," says Justin Chapman, global head of market advocacy & innovation research at Northern Trust.
  • Source: Press Release
  • Previously: JPMorgan joins other Wall Street firms in exploring digital money potential (May 17)

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