Global Banks Test Blockchain Trade Financing with R3 Consortium
Posted: Tue Aug 09, 2016 1:21 pm
It looks like the race to use blockchain technology for international trade financing is heating up today. Just hours ago Bank of America Merrill Lynch, HSBC and the Infocomm Development Authority of Singapore announced that they have developed a proof-of-concept pilot for the field.
Now the R3 consortium reveals that over fifteen of its members have completed two prototypes that demonstrate how distributed ledger technology can address the challenges facing the trade finance industry.
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The banking institutions involved in the trials R3 include: Barclays, BBVA, BNP Paribas, Commonwealth Bank ... (read more)