Banks of Europe made transactions with blockchain technology
This operation was possible thanks to the We Trade platform developed by IBM
This Tuesday several European banks indicated that they completed a series of financial operations, through the blockchain technology they have been developing together.
These operations were carried out in the last five days with 10 companies from different areas. All this was thanks to the support of four associated banks and the blockchain platform created by IBM.
This project is called We Trade, which was activated by Deutsche Bank, HSBC, KBC, Natixis, Nordea, Rabobank, Santander, Société Générale and UniCredit, in an attempt to increase the efficiency of cross-border financial transactions.
“As We Trade moved from pilot applications to live transactions across borders, it has demonstrated the power of Blockchain technology in a business environment,” said Parm Sangha, IBM’s blockchain leader in Europe.
This platform is currently working in 11 countries of the european continent. The director of operations of the platform, Roberto Mancone, assured that the next step is “to obtain the support of additional banks and their clients, in Europe and beyond”.
K. Tovar
Source: Coindesk
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