Seven banks promise that the chain chain has a significant impact on trade finance


nnnLast week, the Digital Trade Chain Consortium, which consists of seven European banks, announced the development of a chain-chain network to provide trade finance solutions to support small and medium-sized enterprises in Europe, from among other important ways in progress Of the block chain activities in the steady flow of stand out. The block chain project shows that the block chain can bring the necessary trust and transparency to the new business network and the related business model formed by the enterprises that are competing and cooperate at the same time, resulting in the network effect and the real value of the chain Then
nnTranslation: Clovern
nThe announcement of the Digital Trade Chain Consortium, which last week’s seven banks, once again strongly demonstrated that the description of the “hype” around the chain chain was somewhat inappropriate. This block chain network is designed to provide trade finance solutions in Europe to support small and medium-sized enterprises and thus stand out from the steady flow of other block chain activities that are ongoing in several important ways.n
nNetwork Effect: This is where banks that are often competing with each other come together to agree on the principle of co-ownership and launch a new block-based chain to handle important markets. In fact, about 21 million European small and medium-sized enterprises have increased their employment in Europe by 85% in recent years (but only about 50% have access to regular credit) and the other half must be prepaid. The digital trade chain is an example of how the chain chain can bring the necessary trust and transparency to the new business networks and business models that are created at the same time as competing firms, resulting in a network effect that realizes real value blocks chain.n
nDirect production: The new platform is scheduled to be available by the end of 2017 (PoC completed last year). The digital trade chain project follows the footsteps of the Northern Trust, DTCC and CLS, confirming confidence in the block chain technology enough to bring its respective platforms into production.n
nTrust in Hyperledger Fabric: The choice of IBM and Hyperledger Fabrics meets the requirements of this year’s start-up alliance, a platform that has been proven to build and run a zone that supports the functionality, security, and performance requirements of mission-critical platforms Block structure and IaaS.n
nIt is hoped that the announcement of the digital trade chain and other forthcoming announcements will continue to shift the discussion of the chain chain from the hype cycle to the actual implementation, the never-expected expectation to the new business model, from technology to The entire user ecosystem provides economic value. Separate PoC foam from actual production!n

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