Reliance Industries – owned by India's richest person, Mukesh Ambani – has used blockchain to conduct its first trade finance transaction.
R3's annual Corda event appeared to be in rude health this year, with packed presentations and some notable news announcements.
Blockchain technology can help global businesses generate an extra $1 trillion in trade finance, according to World Economic Forum research.
A blockchain trade finance platform spearheaded by the People's Bank of China has entered the testing phase ahead of an official roll-out.
Multinational banking firm Standard Chartered is teaming up with manufacturing giant Siemens to put bank guarantees for trade finance on a blockchain.
A digital services firm owned by a Singapore government agency and a major port operator has launched a blockchain platform for cross-border trade.
NatWest, part of Royal Bank of Scotland, has joined Marco Polo, a blockchain consortium started by R3 and trade finance specialist TradeIX.
The Hong Kong Monetary Authority is poised to launch a live blockchain trade finance platform within two months.
London's Blockchain Summit heard banks weigh the possible savings blockchain could bring to global trade – as well as noting the pain points.
Blockchains should do for the global value chain what shipping containers did for transport of goods, says HSBC trade finance expert Vinay Mendonca.
