Forex giant CLS Group: affirming blockchain value, but thinking it is not necessary for the foreign exchange market

Alan Marquard, chief strategy and development officer at CLS Group, admits that Forex's blockchain technology is good, but it is not necessary to reconnect to global financial markets. Note: CLS Group is a global tool for clearing foreign exchange transactions and is owned by the 71 largest banks active in the market. It is reported that about a year ago, CLS Group and CLSNet went online and was hailed as “the first global foreign exchange market enterprise application running on the blockchain in production”, large banks Goldman Sachs, Morgan Stanley and Bank of China. (Hong Kong) is also involved. CLSNet is built on Hyperledger Fabric, an enterprise blockchain platform developed by IBM. Marquard said: "From the first time we conceived CLSNet, I knew very well that it didn't have to run on the blockchain. Blockchain is not necessary for the operation or even normal operation of this process." Marquard said, CLS You can choose to "calculate and launch in a centralized way," but there is a reason for not doing this: "Don't misunderstand what I mean – we support the blockchain. If you don't think (it will bring some benefits) ), we will not invest all of our investment in the blockchain.” Marquard declined to disclose the amount of the investment, but an industry source said it had “millions of pounds”.