A group of globally recognized banks want to execute a joint business plan that aims to launch a trading platform that relied on Blockchain technology.
The group has the name of Digital Trade Chain Group and they are seeking to reduce everything that is currency exchange not only within Europe, but also in the border areas with other countries outside the continent. The group is developing a distributed ledger platform that will connect buyers, intermediary vendors and banks in a single transaction network that will be easy to use and monitor.
The main offices of this association plan to be located in Ireland, and eight banks will be the owners of the entity, and will be responsible for offering the service called "we.trade." All this expects to be formally created by the end of this year, while that commercialization as such is expected to begin in the second quarter of 2018.
The project as such was presented in January, and the group now has the following banks as part of its association: Santander, Deutsche Bank, HSBC, KBC, Natixis, Rabobank, Société Générale, Unicredit and IBM.
During the remaining months, the association is expected to make a series of marketing efforts to include more banks in the group, as well as other financial services. It is known that one of the areas that this group will deal with in particular will be all that is the process and change, but specifically in the area of shipments, one of the industries that we already know that Blockchain technology is adopting a lot in what it goes year.