European Banks Complete First Live Blockchain Financial Trades

European Banks Complete First Live Blockchain Financial TradesAccording to an official statement made today, a group of European banks established by Deutsche Bank, HSBC, KBC, Natixis, Nordea, Rabobank, Santander, Société Générale and UniCredit announced they have completed the first live blockchain-based financial trades across borders via their jointly developed we.trade blockchain platform. Built on IBM’s Blockchain Platform and its Hyperledger Fabric technology, we.trade was built in a bid to boost the efficiency of cross-border financial transactions. IBM’s blockchain lead in Europe, Parm Sangha, stated:

“As we.trade has moved from pilot applications to conducting live transactions across borders, it has demonstrated the power of blockchain technology in an enterprise setting.”

 


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