UK multinational banking and financial services company Standard Chartered (SC) disclosed it is working on a blockchain pilot for bank guarantees using R3 Corda blockchain technology in a press release a Thursday, August 30.
In partnership with Siemens’ financing arm Siemens Financial Services (SFS) and Trade Finance platform TradeIX, the pilot began operating in March and aims to be complete by the end of 2018.
If successful, the project will “digitize trade and leverage real-time data to deliver efficiency gains and transform the way trade finance is conducted,” SC’s global head of trade products Samuel Mathew commented. “The future of trade is going to be all about data,” Mathew added. Read More
Source : Cointelegraph