Prince Charles called for banks and financial technology companies to develop a green loan blockchain

nStorming comment: Although the financial potential of the blockchain has always been the focus of attention, many people find it also playing an important role in humanitarian projects. At present, Prince Charles of the United Kingdom assembled some large banks and emerging financial technology companies to set up a special team to explore how to use blockchain technology to encourage the development of green loans in the hope of enabling more enterprises to adopt sustainable ways to develop their businesses and thereby protect us Living environment. If this project can be successful, then the social significance of blockchain technology will be further recognized.n
nTranslation: Inan
Can financial technology help the planet deal with climate change?n
Many people – Prince Charles; Barclays, Bankers at Standard Chartered and BNP Paribas; and three financial technology companies and professors at Cambridge – hope the answer to this question is yes.n
At the “One Planet” summit in Paris on Tuesday (December 12), they will announce they are developing a blockchain technology that will enable banks to understand which potential lenders have adopted an environmental protection approach. Worth to give its loans on the preferential policies. The publication of such a plan may put pressure on businesses to force them to reduce pollution.n
This is a potentially interesting blockchain, a response to the numbing waste of human resources on the environment for decades, a way for banks to improve their image and attract environmentally-friendly investors and borrowers, and financial technology companies Potential business opportunities.n
The purpose of the bank’s participation in the project is to hopefully achieve the goal of climate change control and enhance its overall reputation.n
Marguerite Burghardt, head of trade finance at BNP Paribas, said:n
n”Banks will be rewarded for this because their image will be greatly improved and their desire to have a positive impact on society will also be greatly satisfied – a huge return. The banking industry is trying to improve its image and carry out its work on Earth And socially active activities play a key role in improving the living conditions on Earth. “n
nEarlier this year, Prince Charles convened a group of global businesses and start-up companies to study how financial technology can be used to attract capital for sustainable projects. The project also set up a financial science and technology task force, its members include Barclays Bank, Standard Chartered Bank, BNP Paribas, three financial technology companies and the University of Cambridge.n
Rhian-Mari Thomas, managing director and chairman of Barclays Green Banking Council, said:n
n”From the very beginning, all participants were interested in our focus on real economic issues and putting forward real-world cases, and we wanted to focus on designing a real, real pilot that we could use as a test platform, Study how different entities can work together and what lessons we can learn, and in this way we will address supply chain challenges and launch upcoming pilots. “n
nBlockchain – likely running on Ethereum or Superbook – will get data on whether supply chain participants have complied with sustainability requirements. The data will be validated by fintech companies such as Landmapp to confirm how much land a company owns. Banks will use this information to provide better prices and terms for businesses that best meet sustainability criteria.n
Thomas said:n
n”Banking will inspire those suppliers to provide data and act in a more sustainable manner, and sustainable purchasing is very important to our customers.”n
nBanks may also have the opportunity to provide blockchain financing and invoice financing.n
So where can blockchains work? The immutability of this technology allows bank staff to be convinced that information about sustainable practices is real. The shared book will naturally allow all participants to see the information, do not need third-party or file transfer.n
British company Provenance is one of three financial technology companies involved in the project, its founder Jessi Baker said:n
n”Blockchain offers a great way to share data among key players, so for me the key to blockchain is interoperability – creating a common system architecture.”n
nTwo other financial technology companies, Landmapp and Halotrade, respectively, use smart contracts and algorithms to translate supply chain data into preferential pricing conditions in the banking system.n
Andrew Voysey, director of sustainable finance at the University of Cambridge’s Sustainable Leadership Institute (CISL), said the goal of the pilot was to experiment with the hypothesis that a concessionary loan to a sustainably managed company would prompt the company to make environmentally friendly choices Better treatment.n
Voysey said:n
n”That’s why we have to test in the real world through major supply chain companies.” For example, Unilever has joined the pilot. “If it succeeds, that can be very transformative.”n
nThe pilot project is expected to take place in December 2018 and its first batch of users is 10,000 tea farmers in Malawi.n
The project may use more than blockchain technology.n
Baker said:n
n”We are now exploring how much new technology can be integrated so that the systems now used for product tracking and trade finance, which are now separate from each other, are yet to be truly linked, and it is not just the districts that help us build these connections Blockchains also include the existing mobile technology environment with open data sets, and many start-up companies are helping people to digitize their data. “n

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