Comment on Leading Global Banks, TradeIX and R3 Pilot Blockchain Trade Finance Solution by Commerzbank crosses new trading frontiers as part of the Marco Polo blockchain project
Following a worthwhile proof-of-concept, a bunch of the world’s important banks, together with commerce finance know-how specialist TradeIX and enterprise software program program company R3, launched on Wednesday that they’re piloting a commerce finance reply, Marco Polo, which leverages distributed ledger know-how .
The Marco Polo initiative targets to be a solution for post-shipment commerce financing, powered by the TiX platform from TradeIX and R3 Corda blockchain know-how. It permits end-to-end, real-time, seamless connectivity between commerce people, eliminating the data silos which stop free transfer of information inflicting inefficiencies and discrepancies, in line with the assertion.
Initially, the reply is focused on three distinct areas of commerce finance: risk mitigation by provision of value commitments based totally on the matching of commerce data, payables finance, and receivables finance. It will be delivered by method of…