IBM blockchain tech chosen by big banks for trade finance platform: Page 2 of 2

June 27, 2017 //By Rich Pell
IBM blockchain tech chosen by big banks for trade finance platform
IBM (Armonk, NY) has announced that a consortium of major European banks has selected the company to build and host a new global trade finance platform based on blockchain technology.
for the technology," says Marie Wieck, general manager, IBM Blockchain. "By addressing the small and medium enterprise market, which faces challenges in data sharing and access to capital, the Digital Trade Chain Consortium is pioneering a unique blockchain solution with the potential for widespread impact."

The Digital Trade Chain Consortium is expected to grow beyond the curent seven EU banks to include additional banks from other countries, as well as trading partners such as shippers, freight forwarders, and credit agencies. The Digital Trade Chain solution is expected to be implemented by the end of 2017.

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