Coverage in other publications.
http://cio.economictimes.indiatimes.com/news/strategy-and-management/banking-firms-use-blockchain-technology-to-ease-trade-financing-processs/53646727
http://zeenews.india.com/business/news/international/hsbc-bofa-apply-blockchain-to-trade-finance-seek-more-partners_1917351.html
Topic: [2016-08-10] BS: Banks and tech firms apply blockchain to trade finance (Read 1137 times)
August 15, 2016, 07:47:52 PM
August 10, 2016, 07:01:32 PM
Banks and tech firms apply blockchain to trade finance
http://www.business-standard.com/article/reuters/banks-and-tech-firms-apply-blockchain-to-trade-finance-116081001347_1.html
An HSBC and Bank of America Merrill Lynch venture and financial technology firm R3 said separately on Wednesday that they had created ways of using blockchain technology to simplify trade finance processes.
The two banks said they had joined with the Infocomm Development Authority of Singapore to emulate a letter of credit (LOC) transaction. Letters of credit are one of the most widely used ways to reduce risk between importers and exporters, helping guarantee more than $2 trillion worth of transactions, but the process creates a large paper trail and is time consuming.
http://www.business-standard.com/article/reuters/banks-and-tech-firms-apply-blockchain-to-trade-finance-116081001347_1.html
An HSBC and Bank of America Merrill Lynch venture and financial technology firm R3 said separately on Wednesday that they had created ways of using blockchain technology to simplify trade finance processes.
The two banks said they had joined with the Infocomm Development Authority of Singapore to emulate a letter of credit (LOC) transaction. Letters of credit are one of the most widely used ways to reduce risk between importers and exporters, helping guarantee more than $2 trillion worth of transactions, but the process creates a large paper trail and is time consuming.
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