Tags: Trade Finance

NTT DATA+MUFG blockchain PoC may be more than it seems

Mitsubishi UFJ Financial Group, Inc.’s (MUFG) banking entity, The Bank of Tokyo-Mitsubishi UFJ, Ltd. and NTT DATA Corporation (NTT DATA) have announced the commencement of a NTT DATA+MUFG PoC (Proof-of-Concept) prototype leveraging blockchain technology. Its objective is to investigate how this might strengthen trade ties between Singapore and Japan. The initiative, in collaboration with Singapore’s…

ModulTrade: a blockchain-based trade platform for MSMEs

ModulTrade has launched a blockchain-based global trade platform specifically aimed at micro, small and medium enterprises (MSMEs). It claims it represents a new marketplace to meet, commit and execute safe and secure trade anywhere in the world. The ModulTrade platform addresses many of the barriers MSMEs face when working to complete a successful trade cycle.…

BlockEx to partner with OpenText on supply chains

To accelerate BlockEx’s trimming of fat using blockchain, it is partnering with OpenText to use blockchain to make supply chain finance more efficient. OpenText already operates some of the world’s largest supply chains through its Business Network. More than 600,000 companies have connections to its network which exchanges more than 24B business transactions a year.…

Cross-border blockchain banking takes a big step forwards, with dangers

IBM  has announced, with technology partners Stellar.org and KlickEx Group. a new blockchain banking solution to help financial institutions address the processes of universal cross-border payments. The design aims to: reduce settlement times lower global payment costs for businesses and consumers. The approach exploits the IBM Blockchain. It seeks to improve the clearance and settlement…

GS1 blockchain standards

GS1, IBM and Microsoft have announced a collaboration to leverage GS1 Standards in enterprise blockchain applications for supply chain clients. GS1 is a not-for-profit organisation with member organisations in 112 countries, 1.5 million user companies and claims 5 billion transactions conforming to a common language that supports systems and processes. It provides global standards for…

BASF applies blockchain to its supply chain

BASF showed off how it is applying blockchain to its supply chain at an EXPO Day of start-up accelerator STARTUP AUTOBAHN. This was held in Stuttgart on July 25. Alongside Daimler, Porsche and Hewlett Packard Enterprise (amongst others), BASF is partnering and mentoring selected start-ups in pilot projects in the areas of: blockchain sensor technology…

Humanitarian aid experiments with blockchain

Start Network is partnering with Disberse in a social enterprise start up. Their aims are to: test blockchain in the delivery of humanitarian finance harness the potentially revolutionary potential of the technology that enabled the Bitcoin.. Ben Joakim, CEO and co-founder of Disberse said: “Disberse was born from an ambition to preserve and improve the…

Mizuho’s trade finance transaction trial completes

Mizuho started a trade finance initiative using blockchain earlier this year. It has now completed a trade transaction between Australia and Japan in which the participants were: Mizuho Financial Group, Inc. (Mitzuho) Marubeni Corporation Sompo Japan Nipponkoa Insurance Inc. In this context blockchain is a form of distributed ledger technology (DLT). It utilizes a system…

Yet another trade finance/blockchain initiative!

Yet another trade finance/blockchain initiative has emerged. Commerzbank and Fraunhofer-Institute for Material Flow and Logistics (IML) in Dortmund have begun a joint research project on digitisation of trade finance. International trade finance, and the underlying transactions, are becoming more and more a focus of digitisation initiatives. Corporates, banks and research institutions are becoming involved. Increasing…

Mizuho Bank and IBM building trade financing solution

IBM and Mizuho Bank are to build a blockchain-based trade financing platform. The plan is to streamline trading operations and improve supply chain efficiency. This announcement adds Mizuho Bank to an increasing list of blockchain-based solutions for finance and supply chain. IBM has also announced projects with Dubai Customs, Mahindra Group, Mitsubishi UFJ and Maersk in recent…