Rutter said the initial focus would be to agree on an underlying architecture, but it had not yet been decided whether that would be underpinned by bitcoin’s blockchain or another one, such as one being built by Ethereum, which offers more features than the original bitcoin technology.

Once that had been agreed on, Rutter said, the first use of the technology might be the issuance of commercial paper on the blockchain.

Source: Nine of world’s biggest banks join to form blockchain partnership | Reuters