European banks to develop Digital Trade Chain blockchain solution that will record international transactions

Briefing

European banks to develop Digital Trade Chain blockchain solution that will record international transactions

February 8, 2017

Briefing

  • Blockchain Platform – Seven European banks to develop blockchain platform called Digital Trade Chain (DTC) that will record or keep track of international business deals on global scale
  • Participating Banks – Include HSBC, Deutsche, KBC and four other banks
  • Technology – Will be based on prototype application by KBC which registers every transaction detail in a distributed ledger, resulting in streamlined processes, faster sharing of administrative data, and lower overhead costs
  • Customer Market – Will benefit small and medium-sized businesses that do not have access to financial tools of large firms

Accelerator

Sector

Financial Services, Information Technology

Organization

Deutsche Bank AG, HSBC Holdings plc, KBC Bank NV

Source

Original Publication Date

January 16, 2017

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