Financial services giant uses Google Cloud Platform for real-world blockchain testing

GFT (Globle Forex Trading), an IT and software services company catering to the financial services sector, has joined the Google Cloud Platform partner program, enabling it to simulate and deploy infrastructure for banking blockchain testing on the platform.

As a major banking software provider, GFT sees the potential of blockchain technology, which can bring some disruptive business models to the financial industry. However, such innovations involve many "core issues" that may hinder the development of the industry, such as the replacement of traditional infrastructure, high costs, etc. Before they are feasible, GFT needs to conduct scale tests.

In the announcement, the company revealed that it intends to deploy blockchain testing infrastructure at banks to help them simulate real-world blockchain models in a globally distributed, scalable testing environment.

Big data will also be involved, with GFT simulating new banks and financial institutions joining the distributed ledger by integrating BigQuery, Google’s petabyte-scale data warehouse solution.

GFT said the entire installation will help its clients gain a detailed understanding of how their internal blockchain solutions will operate in the real world, adding that the Royal Bank of Scotland had recently participated in its test environment implementation. The European bank has also tested blockchain domestic and international payment solutions using the Ethereum platform.