Seven of Europe’s largest lenders have created a consortium to collaborate on a new blockchain-based supply chain management and trade finance platform called ‘Digital Trade Chain.’
Digital Trade Chain (DTC) is the brainchild of Belgian banking group KBC, which has been working on the proof-of-concept throughout 2016 and was awarded the EFMA Accenture Innovation Award for best new service of product in October, 2016. The aim of the DTC is to facilitate cross-border commerce for European Small and Medium-sized Enterprises by leveraging distributed ledger technology to connect all parties involved in international trade transactions.
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