In 1973, a group of banks had a problem: none of them trusted a rival to run the wires between them. So 239 of them built SWIFT and owned it together.
Yesterday, ten European banks did the same thing with blockchain. ABN AMRO, DekaBank, DZ BANK, LBBW, Natixis and five others launched Regulated Layer One (RL1), a Luxembourg cooperative that takes over SW…
