Read the latest in Forbes on ‘Three Predictions For The Year Ahead In Digital Finance’ from R3 CTO, Richard Gendal Brown.
HSBC Says Trade Deal Shows Blockchain Viable for Trade Finance
Taken from Bloomberg…
“HSBC completed a transaction using blockchain which it said shows the technology is commercially viable for trade finance.
Together with ING Bank NV, the London-based bank handled a letter of credit for Cargill Inc. which relied on the blockchain technology developed by the R3 consortium, according to an emailed statement on Monday. The letter of credit backed a shipment of soybeans transported last week from Argentina to Malaysia, the statement added.”
Read the rest of the post here.
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