Thomson Reuters To Provide Market Data Through The Ethereum-Compatible BlockOne IQ Tool

On June 14, 2017, owner of Reuters News, Thomson Reuters Corp., announced the release of a blockchain-compatible plugin for market data.

According to Thomson Reuters, the new tool, called BlockOne IQ, is designed to work seamlessly with the Ethereum and Corda blockchains. Thomson Reuters, which sells news, data, and other information to Wall Street, has ramped up blockchain technology in response to the developments made by its competitors (Bloomberg LP and IHS Markit Ltd), which have also engaged in blockchain research.

BlockOne IQ was designed to expedite the adoption of blockchain technology by financial institutions, according to Sam Chadwick, Thomson Reuters’ director of strategy in innovation and blockchain. He said a disconnect between supportive technologies and applications is partly responsible for the lack of wide scale adoption of blockchain technology.

"A lot of the financial use-cases rely quite heavily on knowing and including real-world data, but there is really no way to do it," said Chadwick.

BlockOne IQ stands to act as an oracle, or intermediary platform, bridging the gap and allowing differing technologies to effectively communicate.