CRYPTO NUGGETS: HSBC - Trade Finance Blockchain Transactions

HSBC - live trade finance transactions on blockchain

Senior innovation manager Joshua Kroeker revealed that the bank is “confident enough to actually do a live transaction” using the technology, having spent the past two years working through various teething issues.

HSBC was involved in one of the earlier blockchain projects for trade finance, when it worked with Bank of America Merrill Lynch and the Infocomm Development Authority of Singapore (IDA) on a proof of concept (PoC) to mirror letters of credit (LCs) using distributed ledger technology (DLT).

References

Source: https://www.gtreview.com/news/fintech/hsbc-ready-live-trade-finance-transactions-blockchain/

Copying/Pasting full or partial texts without adding anything original is frowned upon by the community.

Some tips to share content and add value:

Using a few sentences from your source in “quotes.” Use HTML tags or Markdown.
Linking to your source
Include your own original thoughts and ideas on what you have shared.

Repeated copy/paste posts could be considered spam. Spam is discouraged by the community, and may result in action from the cheetah bot.

Creative Commons: If you are posting content under a Creative Commons license, please attribute and link according to the specific license. If you are posting content under CC0 or Public Domain please consider noting that at the end of your post.

If you are actually the original author, please do reply to let us know!

Thank You!