Standard Chartered and Siemens Are Trialing Blockchain-Based “Smart” Bank Guarantees

Standard Chartered and Siemens Are Trialing Blockchain-Based “Smart” Bank Guarantees

On August 29, 2018, Standard Chartered Bank announced a trial program, in a partnership with Siemens Financial Services and blockchain startup TradeIX, to create an end-to-end blockchain-based bank guarantees solution to facilitate the trade finance process. The trial’s goal is to create “smart bank guarantees” that can replace the existing paper document-intensive bank guarantee business. The Role of Bank Guarantees…The post %%POSTLINK%% appeared first on %%BLOGLINK%%.

Source: BTC Manager