A Group of European Banks Has Tested the Blockchain Platform

As it became known, a coalition of 9 European banks has tested in real time a blockchain platform for financial transactions called we.trade. During the week, 10 companies made several trade transactions through 4 partner banks.

A representative of HSBC Bank reports:

"Last week three of our clients executed transactions using we.trade: Fluid Pumps used the platform to complete an open account transaction with a customer in Finland, GPS Food Group completed an intercompany transaction that included the use of a Bank Payment Undertaking and also executed two open account transactions with Paragon Quality Foods."

The we.trade platform was created to improve the efficiency of international financial transactions. It was developed by an alliance of 9 banks: Deutsche Bank, HSBC, KBC, Santander, Société Générale, Natixis, Nordea, Rabobank, and UniCredit. We.trade is based on blockchain technologies IBM and Hyperledger Fabric.

"As we.trade has moved from pilot applications to conducting live transactions across borders, it has demonstrated the power of blockchain technology in an enterprise setting," stated Parm Sangha, GBS Blockchain Leader at IBM.

Now we.trade works in 11 European countries. However, chief director of the platform Roberto Mancone said that the territory, where the platform is operating, will only expand, and he intends to attract banks and their customers not only in Europe but abroad it as well.

by JustMarkets, 2018.07.04

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Abrir cuenta

Consigue análisis gratis

* campos obligatorios
Últimos artículos
Todos los artículos
Monedas de mercados emergentes
Las monedas de los mercados emergentes se refieren a las monedas de los países que se considera que se encuentran en un proceso de rápido desarrollo económico e industrialización.
Leer más
¿Cuál es el concepto principal del análisis técnico?
Los analistas técnicos usan tablas y gráficos para analizar tendencias, patrones y otros datos de mercado para identificar señales de compra y venta. El concepto principal del análisis técnico es analizar los datos históricos de precios y volúmenes para hacer predicciones sobre futuros movimientos de precios en los mercados financieros.
Leer más