KCN IBM creates a blockchain platform for Europe’s largest banks

IT giant IBM is developing a financial blockchain platform for Europe’s seven largest banks. The Digital Trade Chain Consortium includes: Deutsche Bank, HSBC, KBC, Natixis, Rabobank, Societe Generale and Unicredit. According to ibtimes.co.uk, the blockchain-based trade finance is focused on small and medium enterprises. It is designed to simplify and facilitate domestic and cross-border trade in Europe, and to increase overall trade transaction transparency. The new solution is developed on the basis of Hyperledger Fabric technology and will be available on the IBM Cloud platform. The launch of the new platform is expected at the end of this year.

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