#used case

China Central Bank’s Blockchain Trade Finance Platform Pilots in Shenzhen

A new trade and finance blockchain platform, backed by the People’s Bank of China (PBoC), has started official pilot operations in Shenzhen, local news outlet 21jingi reports September 12.

The “Guangdong, Hong Kong and Macao Dawan District Trade Finance Blockchain Platform” aims to provide a blockchain-powered ecosystem for cross-border trading across Guangdong, Hong Kong, and Macau Bay Area.…

WEF Research : Blockchain may Boost Trade Finance by $1 Trillion

Blockchain is able to fill in much of the $1.5 trillion-dollar supply-demand gap in global trade finance by easing financing for small- and medium-sized enterprises (SMEs) in emerging markets, new research says.

Jointly conducted and released by the World Economic Forum and Bain & Company, the research indicates that, by deploying blockchain, global businesses can generate an extra $1 trillion in…

South Korea Post Service Seeks Crypto ‘Know-How’ From Goldman Sachs

South Korea’s national postal service Korea Post (KP) will meet with Goldman Sachs executives to gain “know-how” about cryptocurrencies, Bloomberg reported Wednesday, September 5.

The service, which oversees an investment fund of $112 billion, said a meeting about crypto had already taken place with Goldman’s incoming chief executive, David Solomon, in New York. Speaking to the Bloomberg in an…

Chinese Central Bank Launches Testing Phase of Trade Finance Blockchain Platform

The People’s Bank of China (PBoC) has officially launched the testing phase of a blockchain trade finance platform, local news outlet Shanghai Securities News reported September 4.

The Shenzhen Central Sub-branch of the People’s Bank of China, the central bank of the People’s Republic of China, has entered the trial phase of the so-called “Bay Area Trade Finance Blockchain Platform” earlier than…

Major Players Use Blockchain to Streamline Agribusiness’ Creaking Supply Chain

Agriculture is proving to be one of the most promising sectors for the growth and implementation of blockchain technologies. The mammoth industry suffers from a number of endemic issues. Agricultural trade relies on complex relationships between farmers and retailers, as well as convoluted supply chain procedures which can complicate payments and product providence. As demand for agricultural…

Hong Kong’s Blockchain Trade Finance Platform to Go Live By September

The Hong Kong Monetary Authority (HKMA), the autonomous Chinese territory’s de facto central bank, is poised to launch a live blockchain trade finance platform within two months.

“The Trade Finance Platform is a blockchain project initiated by 7 banks in Hong Kong. The project has been facilitated by the HKMA and is targeted for launch by September 2018,” the authority told CoinDesk via email.

Ac…

Russian State Pension Fund to Use Blockchain for Employment Contracts

The Russian state pension fund (PFR), the country’s largest social service, has recently suggested implementing blockchain technology in labor relations, local news outlet Izvestiya reports Wednesday, August 29, citing the organization’s press center.

The fund plans to introduce smart contracts to be used as employment contracts between employers and employees. Such agreements could be made in…