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Blockchain consortium R3 is collaborating with 12 banks and technology vendor TradeIX on an open-account trade finance project for corporate buyers and sellers around the world.

R3, TradeIX and the participating banks - Bangkok Bank, Barclays, BBVA, Bladex, BNP Paribas, Commerzbank, CTBC Bank, ING, Intesa Sanpaolo, Shinhan Bank, Royal Bank of Scotland and Wells Fargo - are developing an end-to-end open account trade finance business network which will be powered by TradeIX and R3’s Corda distributed ledger platform.


https://www.finextra.com/newsarticle/31113/r3-and-12-banks-p...


Starrob
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Forgive my small brain, but what is the significance of this. Will they be trading in bitcoin? What else?

Mark
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Forgive my small brain, but what is the significance of this. Will they be trading in bitcoin? What else?

Mark


Not trading in Bitcoin but settling customer accounts with a Blockchain system https://blockgeeks.com/guides/what-is-blockchain-technology/...

Bitcoin simply uses a Blockchain system.

Ethereum https://blockgeeks.com/guides/what-is-ethereum/ would use a different Blockchain system.

I think the article that I posted simply announces that Bladex would be part of Blockchain system established between member banks for trade finance.

Starrob
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A good tutorial on blockchain:

http://investorfieldguide.com/hashpower/


Listen to the audio on blockchain in the above link. Each audio would be a hour long but well worth it for understanding blockchain.

Starrob
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