Santiago Stock Exchange Set to Partner in Blockchain Consortium

A new blockchain project is being launched to help stabilize and improve Chile’s stock market and attract foreign investors.

The Santiago Stock Exchange (STE), Central Securities Depository (DCV), and the Global Trade Directory (GTD) are set to establish a blockchain association, in order to work on a Hyperledger blockchain initiative. This, according to a BNamericas report, released on August 27, 2019.

The Technology Consortium will be looking into various use cases for distributed ledger technology (DLT) in the nation’s financial industry. The Consortium will aim to work on projects that enhance communications for local and international investors participating in Chile’s stock exchange.

During the next 18 months, the association members are planning to establish the Business Blockchain Network. The new network will run on a set of nodes, which will allow for interconnectivity, in order to “reduce applications, times, and costs of administrative processes.”

José Antonio Martínez, the general manager of the Santiago Stock Exchange, said:

“Innovation is a strategic pillar for the Santiago Stock Exchange. Through this Consortium we seek to generate the best conditions for the stock and financial business, with innovative and world-class solutions,”

In 2018, the STE launched the Linux Foundation’s Hyperledger framework to enhance the exchange’s short selling and other financial products. The Hyperledger technology stack is an enterprise-level, permissioned (private) blockchain network.

Recently, the International Swaps and Derivatives Association (ISDA) also started using certain components of the Hyperledger software.

During the course of the next six months, the association intends to formally define and complete the project’s main objectives. The Consortium members will be seeking feedback from the concerned parties. Production releases could begin after the relevant details have been finalized.

Latin American Banking Service Provider to Conduct Bitcoin Blockchain-based Cross-Border Transfers

On August 13, 2019, Bantotal, a major Latin American banking technology company, partnered with crypto exchange Bitex, in order to conduct Bitcoin blockchain-based cross-border transactions.

Manuel Beaudroit, chief marketing officer at Bitex, said:

“The integration of Bitex into Bantotal program represents a major step in the breakthrough of blockchain technology in banking.”

Bantotal is a leading Uruguay-based banking service provider that serves more than 60 financial institutions in 14 different countries.

Approximately 20 million people use the company’s money management services, a Bantotal representative said.

HSBC Is First Bank to Finance Transaction via Hyperledger on we.trade

Multinational banking giant HSBC has reportedly become the first bank to complete financing transaction on European blockchain trade platform we.trade.

Since we.trade started the project back in 2017, HSBC recently financed a transaction on the platform within a second round of pilots that started in June 2019, economics magazine Global Trade Review (GTR) reported on Aug. 22.

The transaction involved HSBC’s client Beeswift, a Midlands-based producer of protective equipment, and their sale to a Rabobank-banked Dutch firm, the report notes.

Based in Dublin, we.trade provides a Hyperledger Fabric-based tool for managing, tracking and securing open account trade transactions between SMEs in Europe. The platform intends to facilitate three major steps in SME trade, including access to trusted counterparties for direct online transactions, so-called bank payment undertaking, which is an online equivalent of a letter of credit, and financing requesting, according to the report.

Backing by major global banks

To date, we.trade is reportedly backed by 12 shareholders, including Deutsche Bank, CaixaBank, Natixis, Nordea, Rabobank, Santander, Société Générale, and HSBC itself. According to GTR, all 12 banks had signed license agreements to use the platform by January 2019.

We.trade is not the only trade finance-related blockchain initiatives that HSBC is involved in. As previously reported, the United Kingdom-based banking giant is also piloting Corda-powered blockchain trade project Voltron. Following recent pilots, HSBC reportedly said that Voltron implementation reduced transaction time by 40%.

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HSBC Is First Bank to Finance Transaction via Hyperledger on we.trade

Multinational banking giant HSBC has reportedly become the first bank to complete financing transaction on European blockchain trade platform we.trade.

Since we.trade started the project back in 2017, HSBC recently financed a transaction on the platform within a second round of pilots that started in June 2019, economics magazine Global Trade Review (GTR) reported on Aug. 22.

The transaction involved HSBC’s client Beeswift, a Midlands-based producer of protective equipment, and their sale to a Rabobank-banked Dutch firm, the report notes.

Based in Dublin, we.trade provides a Hyperledger Fabric-based tool for managing, tracking and securing open account trade transactions between SMEs in Europe. The platform intends to facilitate three major steps in SME trade, including access to trusted counterparties for direct online transactions, so-called bank payment undertaking, which is an online equivalent of a letter of credit, and financing requesting, according to the report.

Backing by major global banks

To date, we.trade is reportedly backed by 12 shareholders, including Deutsche Bank, CaixaBank, Natixis, Nordea, Rabobank, Santander, Société Générale, and HSBC itself. According to GTR, all 12 banks had signed license agreements to use the platform by January 2019.

We.trade is not the only trade finance-related blockchain initiatives that HSBC is involved in. As previously reported, the United Kingdom-based banking giant is also piloting Corda-powered blockchain trade project Voltron. Following recent pilots, HSBC reportedly said that Voltron implementation reduced transaction time by 40%.

Related:

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HSBC Is First Bank to Finance Transaction via Hyperledger on we.trade

Multinational banking giant HSBC has reportedly become the first bank to complete financing transaction on European blockchain trade platform we.trade.

Since we.trade started the project back in 2017, HSBC recently financed a transaction on the platform within a second round of pilots that started in June 2019, economics magazine Global Trade Review (GTR) reported on Aug. 22.

The transaction involved HSBC’s client Beeswift, a Midlands-based producer of protective equipment, and their sale to a Rabobank-banked Dutch firm, the report notes.

Based in Dublin, we.trade provides a Hyperledger Fabric-based tool for managing, tracking and securing open account trade transactions between SMEs in Europe. The platform intends to facilitate three major steps in SME trade, including access to trusted counterparties for direct online transactions, so-called bank payment undertaking, which is an online equivalent of a letter of credit, and financing requesting, according to the report.

Backing by major global banks

To date, we.trade is reportedly backed by 12 shareholders, including Deutsche Bank, CaixaBank, Natixis, Nordea, Rabobank, Santander, Société Générale, and HSBC itself. According to GTR, all 12 banks had signed license agreements to use the platform by January 2019.

We.trade is not the only trade finance-related blockchain initiatives that HSBC is involved in. As previously reported, the United Kingdom-based banking giant is also piloting Corda-powered blockchain trade project Voltron. Following recent pilots, HSBC reportedly said that Voltron implementation reduced transaction time by 40%.

Related:

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HSBC Is First Bank to Finance Transaction via Hyperledger on we.trade

Multinational banking giant HSBC has reportedly become the first bank to complete financing transaction on European blockchain trade platform we.trade.

Since we.trade started the project back in 2017, HSBC recently financed a transaction on the platform within a second round of pilots that started in June 2019, economics magazine Global Trade Review (GTR) reported on Aug. 22.

The transaction involved HSBC’s client Beeswift, a Midlands-based producer of protective equipment, and their sale to a Rabobank-banked Dutch firm, the report notes.

Based in Dublin, we.trade provides a Hyperledger Fabric-based tool for managing, tracking and securing open account trade transactions between SMEs in Europe. The platform intends to facilitate three major steps in SME trade, including access to trusted counterparties for direct online transactions, so-called bank payment undertaking, which is an online equivalent of a letter of credit, and financing requesting, according to the report.

Backing by major global banks

To date, we.trade is reportedly backed by 12 shareholders, including Deutsche Bank, CaixaBank, Natixis, Nordea, Rabobank, Santander, Société Générale, and HSBC itself. According to GTR, all 12 banks had signed license agreements to use the platform by January 2019.

We.trade is not the only trade finance-related blockchain initiatives that HSBC is involved in. As previously reported, the United Kingdom-based banking giant is also piloting Corda-powered blockchain trade project Voltron. Following recent pilots, HSBC reportedly said that Voltron implementation reduced transaction time by 40%.

Related:

  • No Related Posts

HSBC Is First Bank to Finance Transaction via Hyperledger on we.trade

Multinational banking giant HSBC has reportedly become the first bank to complete financing transaction on European blockchain trade platform we.trade.

Since we.trade started the project back in 2017, HSBC recently financed a transaction on the platform within a second round of pilots that started in June 2019, economics magazine Global Trade Review (GTR) reported on Aug. 22.

The transaction involved HSBC’s client Beeswift, a Midlands-based producer of protective equipment, and their sale to a Rabobank-banked Dutch firm, the report notes.

Based in Dublin, we.trade provides a Hyperledger Fabric-based tool for managing, tracking and securing open account trade transactions between SMEs in Europe. The platform intends to facilitate three major steps in SME trade, including access to trusted counterparties for direct online transactions, so-called bank payment undertaking, which is an online equivalent of a letter of credit, and financing requesting, according to the report.

Backing by major global banks

To date, we.trade is reportedly backed by 12 shareholders, including Deutsche Bank, CaixaBank, Natixis, Nordea, Rabobank, Santander, Société Générale, and HSBC itself. According to GTR, all 12 banks had signed license agreements to use the platform by January 2019.

We.trade is not the only trade finance-related blockchain initiatives that HSBC is involved in. As previously reported, the United Kingdom-based banking giant is also piloting Corda-powered blockchain trade project Voltron. Following recent pilots, HSBC reportedly said that Voltron implementation reduced transaction time by 40%.

Related:

  • No Related Posts

HSBC Is First Bank to Finance Transaction via Hyperledger on we.trade

Multinational banking giant HSBC has reportedly become the first bank to complete financing transaction on European blockchain trade platform we.trade.

Since we.trade started the project back in 2017, HSBC recently financed a transaction on the platform within a second round of pilots that started in June 2019, economics magazine Global Trade Review (GTR) reported on Aug. 22.

The transaction involved HSBC’s client Beeswift, a Midlands-based producer of protective equipment, and their sale to a Rabobank-banked Dutch firm, the report notes.

Based in Dublin, we.trade provides a Hyperledger Fabric-based tool for managing, tracking and securing open account trade transactions between SMEs in Europe. The platform intends to facilitate three major steps in SME trade, including access to trusted counterparties for direct online transactions, so-called bank payment undertaking, which is an online equivalent of a letter of credit, and financing requesting, according to the report.

Backing by major global banks

To date, we.trade is reportedly backed by 12 shareholders, including Deutsche Bank, CaixaBank, Natixis, Nordea, Rabobank, Santander, Société Générale, and HSBC itself. According to GTR, all 12 banks had signed license agreements to use the platform by January 2019.

We.trade is not the only trade finance-related blockchain initiatives that HSBC is involved in. As previously reported, the United Kingdom-based banking giant is also piloting Corda-powered blockchain trade project Voltron. Following recent pilots, HSBC reportedly said that Voltron implementation reduced transaction time by 40%.

Related:

  • No Related Posts

HSBC Is First Bank to Finance Transaction via Hyperledger on we.trade

Multinational banking giant HSBC has reportedly become the first bank to complete financing transaction on European blockchain trade platform we.trade.

Since we.trade started the project back in 2017, HSBC recently financed a transaction on the platform within a second round of pilots that started in June 2019, economics magazine Global Trade Review (GTR) reported on Aug. 22.

The transaction involved HSBC’s client Beeswift, a Midlands-based producer of protective equipment, and their sale to a Rabobank-banked Dutch firm, the report notes.

Based in Dublin, we.trade provides a Hyperledger Fabric-based tool for managing, tracking and securing open account trade transactions between SMEs in Europe. The platform intends to facilitate three major steps in SME trade, including access to trusted counterparties for direct online transactions, so-called bank payment undertaking, which is an online equivalent of a letter of credit, and financing requesting, according to the report.

Backing by major global banks

To date, we.trade is reportedly backed by 12 shareholders, including Deutsche Bank, CaixaBank, Natixis, Nordea, Rabobank, Santander, Société Générale, and HSBC itself. According to GTR, all 12 banks had signed license agreements to use the platform by January 2019.

We.trade is not the only trade finance-related blockchain initiatives that HSBC is involved in. As previously reported, the United Kingdom-based banking giant is also piloting Corda-powered blockchain trade project Voltron. Following recent pilots, HSBC reportedly said that Voltron implementation reduced transaction time by 40%.

Related:

  • No Related Posts

HSBC Is First Bank to Finance Transaction via Hyperledger on we.trade

Multinational banking giant HSBC has reportedly become the first bank to complete financing transaction on European blockchain trade platform we.trade.

Since we.trade started the project back in 2017, HSBC recently financed a transaction on the platform within a second round of pilots that started in June 2019, economics magazine Global Trade Review (GTR) reported on Aug. 22.

The transaction involved HSBC’s client Beeswift, a Midlands-based producer of protective equipment, and their sale to a Rabobank-banked Dutch firm, the report notes.

Based in Dublin, we.trade provides a Hyperledger Fabric-based tool for managing, tracking and securing open account trade transactions between SMEs in Europe. The platform intends to facilitate three major steps in SME trade, including access to trusted counterparties for direct online transactions, so-called bank payment undertaking, which is an online equivalent of a letter of credit, and financing requesting, according to the report.

Backing by major global banks

To date, we.trade is reportedly backed by 12 shareholders, including Deutsche Bank, CaixaBank, Natixis, Nordea, Rabobank, Santander, Société Générale, and HSBC itself. According to GTR, all 12 banks had signed license agreements to use the platform by January 2019.

We.trade is not the only trade finance-related blockchain initiatives that HSBC is involved in. As previously reported, the United Kingdom-based banking giant is also piloting Corda-powered blockchain trade project Voltron. Following recent pilots, HSBC reportedly said that Voltron implementation reduced transaction time by 40%.

Related:

  • No Related Posts

The New York Times Tackles Fake News

In Partnership with IBM and Hyperledger Fabric

In order to authenticate the origin of photos, the newspaper will turn to the services of Hyperledger Fabric and IBM’s accelerator program IBM Garage. Hyperledger’s smart contract engine will perform the authentication functions.

Both IBM Garage and Hyperledger Fabric are pioneers in blockchain technology. This means that the New York Times will be introducing a revolution in the publishing world. Blockchain authentication has already entered many fields like banking and retail, however, the publishing industry is still lagging behind. This partnership will allow publishers to give readers trustworthy information about the sources of information used in online publications.

How Will Blockchain Authentication Work?

The New York Times had to turn to blockchain technology in order to make the authentication information available to all readers worldwide. This is possible thanks to benefits like smart contracts and decentralized ledgers. Information about the origin of photos and videos will be stored on blockchains, which means that it will be accessible to every single reader. Not only that, but the decentralized blockchain offers an increased level of security, which means that metadata gathered about publications cannot be altered.

According to the New York Times, each image will carry a set of data signals. These signals contain the identification information of the pictures featured in any given publication. The Times has announced that the project is still being developed. However, a proof of concept document is expected in a couple of months.

Blockchain authentication has the potential to make online publications trustworthy. It gives newspapers the opportunity to provide their readers with contextual data about all pieces. This includes information about the origin of supplementary materials, and other sources used in the compiling of the publications.

Battling Fake News in the Publishing Industry

Fake news is taking the world by a storm. The public in the United States is one of the most affected by this trend. Nowadays, the publication of fake news is one of the leading methods for misinformation and political propaganda. This is why the News Provenance Project is actively searching for solutions to fake news propaganda. According to a survey from 2016, more than twenty percent of Americans admit that they have at some point shared a fake news article.

What is more worrying is that the amount of fake publications rises considerably during the election season. Fake information and statements have a serious influence on the outcome of elections. In turn, this is why the New York Times has decided to start researching ways to battle such publications.

Boosting Trustworthiness

While many publishing houses and newspapers have managed to gain their audiences’ trust, an innovative approach like the one the New York Times has chosen is going to boost trustworthiness across the industry. As smart contracts and blockchain ledgers cannot be altered by third parties, media outlets will get the opportunity to boost their reliability.

The News Provenance Project is the first step towards a major redesign of the publishing industry. So far, newspapers and magazines have depended solely on their name and reputation to serve as proof of their integrity. However, with the adoption of blockchain technology and smart contract verification, publishers will be able to give readers better authenticated content.

Tags: Blockchain TechnologyFake NewsHyperledger FabricIBMNew York TimesHristina Yordanova
Throughout my experience, as a media analyst, I’ve had the pleasure to work for the European Central Bank, Morgan Stanley, Barclays, Societe Generale, Hilton Hotels, and Aviva International. I am also a passionate contributor to a number of leading cryptocurrency and blockchain news websites. These experiences have given me a deep insight regarding the financial world, blockchain enterprises and institutions and practices involved in it. I am extremely excited to be a part of Business Blockchain HQ as this is a team of professionals who definitely have worthy material to share.

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