• Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News

    Rumble to Launch Bitcoin and Stablecoin Wallet by 2025

    Rumble to Launch Bitcoin and Stablecoin Wallet in 2025

    Rumble to Launch Bitcoin Wallet With Tether in 2025

    Bitcoin Whale Accumulation Reaches Record Highs in May 2025

    Coinbase Launches 24/7 Bitcoin, Ethereum Futures Trading

    Coinbase Initiates 24/7 Bitcoin, Ethereum Futures Trading

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar

    XRP Whale Movements Hint at Possible Bullish Breakout

    XRP Whale Transactions Signal Potential Price Surge

    Solana Meme Coin MOODENG Surges 150% Amid Trading Spike

    Shiba Inu Token Shows Bullish Signals Amid Market Fluctuations

    Ethereum’s May Rally Signals Potential New Altcoin Season

    Binance Confirms Doodles Token Airdrop for Eligible Holders

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    Benefits Of Choosing the Right AI Trading Bot

    4 Benefits Of Choosing the Right AI Trading Bot

    Crypto Trading

    A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

    BitcoinGames.com

    BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

    How AI is Helping Athletes and Fans Get the Most out of the Game

    From Training to Judging, AI is Entering the Ring

    Top 5 Websites for Buying Gift Cards with Crypto

    Clutch Savours – Gift Certificates You Can Buy with Crypto

    Layer 2 Blockchains

    Everything You Need To Know About Layer 2 Blockchains

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

India’s Largest Private Sector Firm, Performed Its First Blockchain Powered Trade Finance

Joshua T. by Joshua T.
November 5, 2018
in Latest News
Reliance Industries

Source: adageindia.in

The recent report coming from India has made it known that the state of cryptos in the country has not been well defined. Despite this, India’s largest private sector firm, Reliance Industries has successfully commissioned its first blockchain powered trade finance transaction.

Reliance Industries First Dance with Blockchain Technology

Going by the recently released report, it was made known that Reliance Industries, has officially pioneered its first ever trade finance transaction involving multinational companies and a huge deal of money while using blockchain technology. The report has made it known that this trade finance transaction which was completed by the Indian oil and energy conglomerate was done with US-based Tricon Energy, a global chemical distributor.

The report made it known that the said transaction was an end-to-end ‘live’ transaction and it was executed over R3’s Corda blockchain.
The report also made it known that the Corda blockchain platform is a “single shared application, rather than requiring multiple isolated digital systems across various counterparties, located around the globe.”

HSBC India’s head of global banking and markets Hitendra Dave has also commented on this trade. He stated that:

“The use of blockchain is a significant step toward digitizing trade…The overall efficiency it brings to trade finance ensures cost effectiveness, quicker turnaround and potentially unlocks liquidity for business.”

Letter of Credit

The Letter of Credit—the bank guarantee of a buyer’s payment, was facilitated by HSBC and ING Bank Brussels. The report made it know that the letter of credit was issued by ING Bank for Tricon Energy USA as the importer with HSBC India participating as the negotiating bank for Reliance Industries as the exporter. The report also made it known that the shipment between the two energy firms in a fully digitized transfer of title.

Previously this type of transaction normally takes about 7 to 10 days before the complete processing of export documentation.

Previous Post

Kraken Review: Beginner’s Guide to Kraken Exchange

Next Post

Bitstamp Has Increased Its Matching System by 1,250x

Joshua T.

Joshua T.

Related Posts

Crypto Sentiment Index Reaches “Greed” Territory at 73

by Solomon M.
May 9, 2025

The Crypto Fear and Greed Index has reached 73, indicating increased investor optimism and potential market caution.

Crypto Fear and Greed Index Rises to ‘Greed’ Level

by Solomon M.
May 9, 2025

The Crypto Fear and Greed Index hits 73, reflecting rising bullish sentiment in the cryptocurrency market.

Democratic Senators Investigate Trump’s Binance Connections

by Solomon M.
May 9, 2025

Senators scrutinize Trump's financial ties to Binance, impacting stablecoin legislation.

Federal Reserve Reduces Balance Sheet by $14.34 Billion

by Solomon M.
May 9, 2025

Federal Reserve cuts $14.34 billion from its balance sheet, impacting liquidity and risk assets.

WhiteBIT Launches Global Crypto Trading Championship Live Stream

by Solomon M.
May 9, 2025

WhiteBIT initiates the first live-streamed global crypto trading championship, ICTC 2025, on May 9-10.

Yellen Criticizes Senate for Blocking GENIUS Act

by Solomon M.
May 9, 2025

Janet Yellen criticizes Senate's blockage of the GENIUS Act, impacting U.S. stablecoin regulation.

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.