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Firm Owned by India’s Richest Man Turns to Blockchain for Trade Finance

Firm Owned by India’s Richest Man Turns to Blockchain for Trade Finance Oil and gas conglomerate Reliance Industries – owned by India’s richest person, Mukesh Ambani – has used blockchain to conduct its first trade finance transaction. According to a news release from HSBC India shared with CoinDesk on Sunday, …

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R3’s CordaCon Event Sees Big News, Packed Talks and Blockchain Converts

R3’s CordaCon Event Sees Big News, Packed Talks and Blockchain Converts London’s CordaCon 2018, an annual gathering hosted by R3 to celebrate everything happening on the Corda platform and its developer community, appeared to be in rude health this year with standing room only in many of the presentations. The …

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Blockchain Could Boost Trade Finance by $1 Trillion, WEF Research Says

Blockchain Could Boost Trade Finance by $1 Trillion, WEF Research Says Blockchain is able to fill in much of the $1.5 trillion-dollar supply-demand gap in global trade finance by easing financing for small- and medium-sized enterprises (SMEs) in emerging markets, new research says. Jointly conducted and released by the World …

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PBoC-Backed Blockchain Trade Finance Platform Enters Test Phase

PBoC-Backed Blockchain Trade Finance Platform Enters Test Phase A blockchain trade finance platform spearheaded by China’s central bank has entered the testing phase ahead of an official roll-out. According to a report from 21st Century Business Herald on Tuesday, the first phase of the so-called Bay Area Trade Finance Blockchain Platform is …

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Government-Backed Blockchain Trade Platform Launches in Singapore

Government-Backed Blockchain Trade Platform Launches in Singapore CrimsonLogic, a Singapore-based e-government service provider owned by a government agency and a major port operator, has announced the launch of a blockchain platform focused on cross-border trade. The firm’s fully-owned subsidiary GeTS launched the service on Wednesday, according to a press release. …

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Banks Take Sides as Blockchain Trade Finance Race Heats Up

Banks Take Sides as Blockchain Trade Finance Race Heats Up Trade finance is possibly the busiest space in enterprise blockchain today. And while the people behind the different platforms may say they’re not in competition, that’s not how it looks from the outside. Announced Tuesday, NatWest, a part of the …

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Hong Kong’s Blockchain Trade Finance Platform to Go Live By September

Hong Kong’s Blockchain Trade Finance Platform to Go Live By September The Hong Kong Monetary Authority (HKMA), the autonomous Chinese territory’s de facto central bank, is poised to launch a live blockchain trade finance platform within two months. “The Trade Finance Platform is a blockchain project initiated by 7 banks …

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Bankers Tout Trade Finance as the Sweet Spot for Blockchain

Bankers Tout Trade Finance as the Sweet Spot for Blockchain Even if blockchain fatigue may have set in among bankers, there’s at least one use case they’re still clearly excited about: trade finance. At least, that was the impression given at the Blockchain Summit in London this week, where a …

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HSBC Exec Warns ‘Digital Islands’ Could Inhibit Blockchain Trade

HSBC Exec Warns ‘Digital Islands’ Could Inhibit Blockchain Trade When HSBC’s Vinay Mendonca thinks about how distributed ledger technology (DLT) will reshape global trade, he sees two scenarios – one inspiring, the other dispiriting. In the best case, blockchains and other digital platforms should do for the global value chain …

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Bangkok Bank Joins R3’s Trade Finance Blockchain Initiative

Bangkok Bank Joins R3’s Trade Finance Blockchain Initiative Bangkok Bank has joined the Marco Polo trade finance initiative developed by blockchain software startup R3 and trade finance technology firm TradeIX. The Marco Polo platform is aimed to make trade finance simpler and more risk-free using blockchain technology instead of manual, …

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