Eleven banks use R3 Corda software to develop distributed books


nnnIn the wake of the riots: R3’s distributed books Corda is the development platform for other block chain projects. So one of the banks, such as HSBC and Mizuho, ​​has developed a trade finance application program on the platform to eliminate the trade financing chain The paper process. The project will be further tested to attract more participants and expand the scope of the application.n
nnTranslation: Annie_Xun
nEleven banks have developed trade finance applications using the technology developed by the distributed bookstore firm R3.n
nThe company announced that the purpose of these banks to build applications, in the R3 Corda platform, to improve the credit process. Banks include Bank Bank, BBVA, BNP Paribas, HSBC, ING, Intesa Sanpaolo, Mizuho Bank, BNP Paribas, BNP Paribas, (Mizuho), Royal Bank of Scotland (RBS), Scotiabank, SEB, Swedish,n
nThe core purpose of this application is to eliminate the paperwork process of credit in the chain of trade financing. The test will continue in the middle of the other participants, with the aim of extending the scope of the application and the number of participants over the next year.n
nThe app was released a year before R3 and the same group of banking institutions tested the solution in the area of ​​trade finance. For the past year and a half, this use case is an important one in the global financial institutions.n
nEarlier this summer, R3 released a beta version of the Corda platform, which also announced a few hundred dollars a few weeks ago.n

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