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Blockchain Application: Four Banks Go Live on we.trade Blockchain Platform

The we.trade blockchain platform is now live across 11 European countries, with four banks closing seven trade transactions.  The pilot transactions, which took place over the last five days, were carried out by 10 companies across five countries. The four banks involved were HSBC, KBC, Nordea and Rabobank. Powered by Hyperledger Fabric, we.trade is a solution for managing, tracking and ... Read More »

Alibaba Seeks to Eliminate Middlemen in Blockchain Payments Patent

Alibaba has been exploring the use of blockchain technology to speed up international payments, according to a new patent filing. The patent application – “A System and Method That Adjusts Account Balance on a Blockchain” – was filed with the China State Intellectual Property Office in January of this year and was revealed on Friday. Aimed to tackle the broad ... Read More »

Blockchain: What Business Executives Need To Know

Almost every board of directors and senior business leader knows of the blockchain. Not all are fans of cryptocurrency, but all seem to be deeply interested in exploring the business impact of the distributed ledger that makes crypto-currencies work. There are quite a few interesting use cases out there. Some may hold great potential. But there are also lots of interesting ... Read More »

Ant Financial Launched a Blockchain-based Remittance Service

Ant Financial launched a blockchain-based service that lets Hong Kong’s large Filipino working population send funds to family back home quickly and securely. For now, the program is in a three-month trial period during which transaction fees will be waived. “We are very excited to introduce this new remittance solution to our users in Hong Kong, and in particular to ... Read More »

Blockchain: Food Chains Band Together to Monitor Food from ‘Farm to Fork’ 

Some of the biggest grocery operators in the world are getting together to set blockchain standards so that products in the food supply chain can be monitored from “farm to fork”. More than 1 million products across 50 food categories will eventually become part of the blockchain initiative.  Once these large companies adopt blockchain standards and requirements for how you will ... Read More »

Chinese Banks to Put Credit Blacklist on a Shared Blockchain

The banking arm of Chinese retail company Suning is testing a consortium blockchain that would allow participating banks to record and update a shared ledger of users with bad credit scores. According to a local news source Sina Finance on Thursday, Suning Bank developed the blockchain system in order to move its blacklist of suspect borrowers to a distributed database in an ... Read More »

DMG Blockchain Announces Licensing Agreement with JCIS in Japan

DMG Blockchain Solutions Inc., a diversified blockchain and cryptocurrency company, has entered into a licensing agreement with Japan Credit Information Service Co. Ltd. (“JCIS”), a Japanese company engaged in fintech to market and sell DMG’s proprietary blockchain data analytics and forensics software tool – Bitscore into the Japanese market. The parties may in the future enter into a joint venture. ... Read More »

Blockchain Application: Alibaba to Improve Supply Chain Integrity

Alibaba has launched a blockchain technology initiative to protect product authenticity and improve its supply chain integrity. The Food Trust Framework is a Tmall Global initiative which aims to enhance consumer confidence and create trust and transparency for cross-border trade across Alibaba’s Tmall Global platform. The initiative will incorporate standards and controls including product tagging with unique QR codes and ... Read More »

Blockchain Startup CargoX to Digitize Issuance and Transfer of Bills of Lading

Trade Finance’s latest tech startups, CargoX, is entering the battle to end the heavy reliance on paper in cross-border trade. It is doing so using blockchain technology, thus challenging existing initiatives spearheaded by the likes of IBM, Maersk and Wave. After having raised over US$7mn in eight minutes in an ICO in late January, Slovenia-based CargoX has now released the ... Read More »

Out of the Box: Poland Appears to be First to Put Banking Records on the Blockchain

BIK, the largest credit bureau in CEE, commits to implementing Billon blockchain for storage and secure access to sensitive customer information. Billon, the technology company that has captured blockchain technology, and the Polish Credit Office (Biuro Informacji Kredytowej – BIK), the largest credit bureau in Central and Eastern Europe, will jointly implement blockchain for storage and secure access to highly ... Read More »

Blockchain: Alibaba Launches Pilot Project to Fight Food Fraud

Alibaba is partnering with four Australian and New Zealand-based firms to create a food-tracing system built on blockchain technology that will help customers track the supply chain of foodstuffs ordered online, as well as prevent food fraud. The system, called the Food Trust Framework, was established last year through a Memorandum of Understanding (MoU) with Australian companies Blackmores and Australia Post and New Zealand-based ... Read More »

How to Beat Blockchain: Swift Speeds up Cross-border Payments, without It

Hastened by a potential replacement by Blockchain cross border payments, Swift’s one-year-old global payments innovation (gpi) service is growing at a rapid rate and significantly improving cross-border transaction speeds. A year after the first banks went live with Swift’s gpi, the service has been adopted by more than 150 financial institutions around the world, according to figures released by the global transaction ... Read More »

Amazon’s new Blockchain Service Competes with similar Products from Oracle and IBM

Amazon  Web Services announced Blockchain Templates late last week, a “blockchain-as-a-service” offering that competes with similar products from Oracle and IBM. The launch shows how eager the biggest enterprise players are to get ahead in the blockchain game, even if their customers are still trying to pinpoint exactly what blockchain can do for them (and some investors are starting to temper their initial excitement). ... Read More »

Blockchain to Secure Storage of Sensitive Data?

Data Security is no longer a luxury or an afterthought. With so much of our private, personal, and sensitive information being stored and transmitted online, tight security and privacy are now necessities for everyone.  But, just as more of our lives are going online, we are hearing about more data breaches and hacks than ever. Blockchain technology can improve on current, ... Read More »

Cognizant Teams with 14 Insurers on Blockchain Data-Sharing Platform

The objectives of the collaboration are lower cost and higher security in sharing cross-company data Cognizant has teamed up with 14 Indian insurance firms on the development of a blockchain solution for cross-company data sharing. The IT multinational said in a statement on Monday that the platform was designed to allow firms to securely share data with lower risk of ... Read More »