(3.29.17) Banking Technology: How crude! IBM oils up for blockchain threesome

By March 29, 2017News

Natixis, IBM and physical commodities trading group Trafigura have launched the first blockchain solution in commodity trade finance for US crude oil transactions.

The distributed ledger platform, built on the Linux Foundation open source Hyperledger Fabric, allows “major steps” in a crude oil transaction to be digitised on the blockchain, ensuring that famous trinity of “improved transparency, enhanced security, and optimised efficiency”.

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