#trade News

Saudi Arabia and Bahrain Use Blockchain Technology to Finance International Trade

November 21, 2019 by Edoardo Vecchio at Blockchain

SABB and HSBC executed for the first time a blockchain-based trade transaction between Aluminium Bahrain B.S.C. (Alba) to Saudi Arabia’s Altaiseer Aluminium Corporation (TALCO). The news comes from an official post by SABB on November 20, 2019. Global Trade Faster, Safer, and Simpler The transaction executed by SABB and HSBC...

India Squashes Petro Rumors, Will Not Accept the Digital Currency For Oil Imports

May 31, 2018 by Shaurya Malwa at Altcoins, Business, Finance, News

Despite the criticisms that the controversial Petro cryptocurrency has faced both locally and internationally since its launch in February 2018, the coin’s backers have unsuccessfully tried their best to gain relevance and seek a robust use-case. However, most countries have thwarted the idea of using a cryptocurrency for official deals....

HSBC Concludes – “Blockchain Is Viable” After Successful Trade Deal

May 15, 2018 by Priyeshu Garg at Altcoins, Blockchain, Business, Finance, News, Tech

HSBC Holdings announced that it had completed its first scalable blockchain-based trade finance transaction through which it has concluded that blockchain is ready for mass adoption in the trade finance market. HSBC revealed that it concluded that blockchain is a commercially viable technology after processing a letter of credit on...

Former Presidential Advisor Warns of Cryptocurrencies’ Potential For Sanction Skirting

February 11, 2018 by Priyeshu Garg at Altcoins, Bitcoin, Blockchain, Commentary, News, Regulation

Juan Zarate’s most prominent time in the limelight was during the presidential reign of George W. Bush. Serving as the former president’s Deputy Advisor and Deputy National Security Advisor for Combatting Terrorism, Zarate led the Treasury’s efforts to undermine the funding of terrorism by way of various financial embargoes and...

Soybean Shipment to China the First Agricultural Commodity Blockchain Transaction

January 24, 2018 by Priyeshu Garg at Blockchain, Business, Finance, News

A seemingly routine and insignificant soybean shipment from the USA to China has been made mildly famous as the first commodity deal facilitated by blockchain technology. Feted as “the first full agricultural commodity transaction using a blockchain platform” by the consortium of banks, brokers, and vendors involved, it affirms the...

UPS Joins Blockchain in Transport Alliance To Revolutionize Trillion Dollar Freight Industry

December 19, 2017 by Nigel Dollentas at Blockchain, Business, News

UPS recently announced their participation in a forum called Blockchain in Transport Alliance, or BITA, which looks to develop blockchain technology tailored for the freight industry, as well as educate members of the forum about the blockchain and its implications for logistics. With Freight and Logistics accounting for $1.5 trillion...

Furthering the Efficiency and Security of Trade Flows with the Blockchain

November 15, 2017 by Farzana Begum at Blockchain, Business, News

Since the entry of shipping containers in the 1950's to transports goods passing different borders, international trade has not adopted any technological advances aiding the process shipments go through. Typically, there has been little change in the way goods are transferred from one location to the other. For example, the...

Port of Rotterdam Launches Blockchain Lab

September 29, 2017 by Joseph Young at Blockchain, News

The Municipality of Rotterdam and the Port of Rotterdam Authority in the Netherlands have launched BlockLab, announced on September 21. The blockchain research lab that will focus on demonstrating the potential of blockchain technology in industries outside of finance. BlockLab and its operations will be financed by the Dutch government...

Cryptocurrency Closure in China Marks Digitization of the Economy

September 20, 2017 by Liam J Kelly at Bitcoin, Commentary, News

In a recent interview, associate professor at the Finance Academy of Social Sciences Institute of China, Zhou Ziheng, discussed China’s tough regulatory attitude, the digitization of the economy, and the two great forces of any economy; the public and the private. Cryptocurrency in Limbo Ziheng spoke with associates of Chinese...

Bext360 Unveils Blockchain Platform For The Coffee Supply Chain

July 23, 2017 by Alex Lielacher at Blockchain, News, Tech

Colorado-based technology company Bext360 announced the creation of its first supply chain solution. The platform is called bextmachine and has been developed specifically for the global coffee supply chain. The announcement was made at the Massachusetts Institute of Technology (MIT) during a TechCrunch event focusing on robotics on July 17....

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