Microsoft and BAML team up on blockchain-based trade finance project

Microsoft and BAML team up on blockchain-based trade finance project
 

Microsoft (MSFT.O) and Bank of America Merrill Lynch (BAC.N) have joined forces on a project to use blockchain technology to make trade finance transactions faster, cheaper, safer and more transparent, the companies said on Tuesday.
The two multinationals said at the Sibos financial services conference in Geneva that they would build and test the technology and create a blockchain-based framework that could eventually be sold to other businesses.
Blockchain works as an electronic record-keeping and transaction-processing system that allows all parties to track information through a secure... read more

 
27 September 2016 in Science &Technology, Views: 39
Source: Reuters
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