ABN AMRO, a Dutch state-owned bank, announced its collaboration with Delft University of Technology (TU Delft), a Netherland-based technology university, in order to develop more complex blockchain applications.

According to the official release, the collaboration plans to deliver a secure, working application in six months. Apart from developing the application, the staff of ABN AMRO will also attend courses on blockchain applications in the TU Delft Blockchain Lab.

“We are delighted to be able to work with an expert partner like TU Delft. This offers us an excellent opportunity to expand our knowledge and gain a deeper understanding of the ways in which blockchain applications can be used. The fact that it is being approached from a scientific perspective makes it especially interesting,” Arjan van Os, Head of the ABN AMRO Innovation Centre said.

The application will be based on previous work of TU Delft on blockchain technology that was amalgamated within Blockchain Lab. The research at TU Delft aims in developing next-generation blockchain technology, which can work reliably with large amounts of data and large numbers of users. The codes developed will be open source and dummy data will be used rather than data from bank customers, during the phase.