Four major European banks, including Deutsche Bank and HSBC, announced that they completed the first cross-border live blockchain financial transaction on the joint development of the blockchain platform we.trade.
According to its announcement on Tuesday, the platform has implemented real financial transactions in 10 companies over the past five days, and the four banks have used blockchain technology to support them.
HSBC said that three of its customers successfully completed open account transactions in Europe last week through we.trade.
We.trade is built on IBM's blockchain platform and its superbook technology, by Deutsche Bank, HSBC, KBC, the Foreign Trade Bank, the Swedish Nordic Union Bank, the Dutch Cooperative Bank, the Spanish International Bank, the Societe Generale and Established by Italy's Yuxin Bank to improve the efficiency of cross-border financial transactions.
[Cellular Mining Machine] It was learned in April that we.trade plans to start testing the platform in May and is expected to be released commercially in the summer of 2018.
Societe Generale said in April that the reason for our rapid growth is that it focuses on small and medium-sized enterprises within Europe.
In the announcement today, IBM's blockchain director in Europe, Parm Sangha, commented:
“As we.trade moves from pilot applications to cross-border real-time transactions, it has demonstrated the power of blockchain technology in the enterprise environment.”