Homepage / Technology / Blockchain technology is moving into the financial mainstream with IBM and seven European banks
Kiçik təyyarə oyunu 1xBet 1xbet Aviator gam The way to select a Data Bedroom Service Bewertungen zu Vulkanvegas Lesen Sie Kundenbewertungen zu vulkanvegas com 3 von 5 小柳商事株式会 Mostbet Türkiye mobil uygulamasını indi Participate in A European Romance Website & Meet The Match What to anticipate in VDR Providers paribahis 717 Best Country To get yourself a Wife: Asia, Europe & Latin America Technology and Asylum Procedures Business Process and Digitalization How to begin Your Blog With no Investment Software For Modern Business Setting Up the Electronic Data Areas Greatest On-line Relationship Websites & Apps: Comparison Legal Support and Advice Intended for Small Businesses The very best Virtual VDR Providers 9 Tips for Working With Teams in Different Timezones Australian Brides Deliver Order Birdes-to-be From Quotes Korean Brides -mail Order Brides From Southern Korea Choosing a Data Place Antivirus Solutions — What to Look For within a Good Anti-virus Solution Best Alternatives of VPN Software New Step by Step Roadmap for Marijuana News Mail-order Bride Wikipedia Relationship With A Russian Mail Order Bride: Can It Develop Suitable Family? Steve Munger: These Primary Guidelines Made Me Effective In Life With Warren Buffett, Thought about All Three Guide To Choosing The Right Mailbox Order Star of the event Web Site In 2023 Few Wins $3 Million In Pennsylvania Lotto Scratcher, Strategies Trip Privately owned Internet Access Avast Review Powerful Deal Achievement Top Rated Free VPN Services Adaware Review – Is Adaware Review Right For You? Large 15 Best Countries To find a Spouse In 2023 Online dating services Reviews Ideal Legit Snail mail Order Bride-to-be Sites To Decide On In 2023 & Feedback Thailänder Brides Pleasant Thai Mailbox Order Wedding brides To Marry Thailänder Brides Get A Thailand Deliver Order Bride The principal Expenses Ukrainian Mail Order Spouse Cost Includes The Nations Just where Girls Have One Of The Best Lives, In Chart Partner Of Ukraines Spy Fundamental Was Poisoned, Officers Say The Model Ny Occasions New Restaurants And Pop-ups To Try In L A This 12 Los Angeles Situations Ways to Discover United states Marriage Details Romancescout: Your Information To On-line Relationship Evaluations, Recommendations Tes Ship Order Bride-to-be Discover A Overseas Spouse Across the internet Free With Jetbride Com Powerful Interracial Marriages Exquisite Interracial Lovers Exactly what the Best Online dating Websites? Very best Dating Web page Reviews – Find Your web Soul Mate Ways to Create Online dating sites Profiles Long Relationship Suggestions Long Relationship Suggestions How to begin a Successful Wife Search Getting married to a Russian Child The right way to Meet Delightful Ladies Around the World To recognize Know About Ukrainian Single Girls Dating The Different Types of Sugar Daddies The key benefits of Dating a Latina Top 5 International Dating Sites Russian Women Seeking Men Overseas Cookware Interracial Lovers and the Backlash Against All of them Getting the Marriage License and Wedding ceremony Done Correct How to pick the Best Web based Marriage Company Flirting Tips For Timid People Delightful Interracial Lovers Crucial Russian Females Dating Suggestions for Men Steps to create the Most of Dating An individual From Another Country Web based Top five Romantic Honeymoon Destinations Just what Soulmate? Web based Relationships Suggestions The Challenges of Dating An individual From A further Country Setting Expectations just for Online Sugar Daddy Arrangements Marital relationship License and Ceremony Why Are Latinas Heated? Getting Foreign Bride-to-be Tips on how to Propose — What’s the Best Way to Say “I Do”? Is usually Your Long Distance Marriage Moving Too quickly? Dating Etiquette — The Modern Rules of Seeing A Quick Guide to the Use of NLP in Chatbots Building Trust in Human relationships Les mariages interracials les plus réussis sont ceux basés sur l’amour & le respect Browsing through Cultural Differences in Asian Human relationships How you can Have a cheerful Marriage The right way to Fix a Relationship With out Hurting Your companion How to Spice Up a lengthy Distance Relationship The main advantages of Online Dating What is the Best Female Race to Marry? Western european Women Stereotypes Why Asian Girls Like Bright white Guys How to Succeed in On the web Relationships Top 5 Online Connections Tips Top 5 Online Connections Tips Leading Countries With Best Foreign Brides Powerful Interracial Relationships Asian Wedding Icon Meanings Where to Find a Deliver Order Star of the wedding Wedding ceremony Traditions in Ukraine For what reason Asian Girls Like Light Guys Asian Brides Via the internet Tips on how to Propose – What’s the simplest way to Say “I Do”?

Technology

Blockchain technology is moving into the financial mainstream with IBM and seven European banks

IBM is building blockchain technology that will be used by seven of Europe’s largest banks, including HSBC and Rabobank, to facilitate international trade for small and medium-size enterprises, the company said on Tuesday.

The project will mark one of the first real-world use cases of blockchain technology in financial institutions. The potential of blockchain has been praised by the banking industry over the past couple of years, but the first real applications are beginning.

Blockchainis ageneral term for a distributed digital ledger that can record transactions and is tamper-proof. It’s the underlying technology that makes cryptocurrencies such as bitcoin and Ethereum possible, but it has also been talked up by banks as a way to streamline processes and make them more efficient and cheaper.

IBM is building this new blockchain, Digital Trade Chain, to help parties track, manage and transact internationally.

When a merchant sells goods to another party and those goods arrive, the blockchain triggers a payment to take place, explained Wiebe Draijer, chairman of the executive board at Rabobank, one of the participating banks.

“We take care of the payment that’s still the old payment technology,” Draijer told CNBC in a TV interview on Monday, “but the whole infrastructure, the administration is done on the blockchain. And ultimately we will also move the payment into that blockchain solution, when the payment in blockchain is ready to be robust for large-scale application.”

Seven banks — Deutsche Bank, HSBC, KBC, Natixis, Rabobank, Societe Generale and Unicredit — are part of the consortium.

The tech solution will be built on Hyperledger Fabric, an open source blockchain framework, and will go live by the end of the year.

“There are many many tests and every bank and every fintech is experimenting with use cases of blockchain. We are moving a step further with seven banks, putting together an application based on blockchain where we facilitate small-and-medium-sized enterprises when they export. And the blockchain technology is very powerful and supports that proposition,” Draijer said.

Many banks have so far done one-off trials with blockchain technology. For example, Wells Fargo and the Commonwealth Bank of Australia used blockchain last year to process and execute a shipment of cotton from the U.S. to China. And Barclays trialed derivatives trading using blockchain technology.

WATCH: Here’s what sets Ethereum apart from its rival Bitcoin

Source: Tech CNBC
Blockchain technology is moving into the financial mainstream with IBM and seven European banks

Comments are closed.