In a recent Reuters article it was announced that Fidelity Investments’ Fidelity Labs will join the Initiative for CryptoCurrencies & Contracts (IC3) in its research on blockchain. The IC3 group is based at the Jacobs Technion-Cornell Institute at Cornell Tech and includes researchers from Cornell Tech, Cornell, UC Berkeley, Technion and the University of Illinois at Urbana-Champaign. 

Fidelity Investments Inc has become the first financial institution to join the Initiative for CryptoCurrencies & Contracts, a group of academic institutions and technology companies looking to develop blockchain-based technology.

Fidelity Labs, the innovation arm of asset manager Fidelity, will be a member of IC3 along with Cornell University, University of California at Berkeley, University of Illinois at Urbana–Champaign, the Technion, IBM Corp and Intel Corp, the company said in a statement.

The Boston-based fund manager will collaborate with the group to develop blockchain programs to help make financial systems more efficient and secure.

Read the full article on Reuters.