The exchange was for a shipment of soybeans transported last week from Argentina to Malaysia.
"The transaction demonstrates that blockchain as a solution to trade digitization is commercially and operationally viable".
Similarly, it will take some time for every finance institution to settle on a single blockchain standard to conduct these transactions. This exchange was done in 24 hours.
Eli Manning's memorabilia fraud trial delayed
The email does not refer to the two helmets at issue in the lawsuit, but Inselberg alleged it indicates a pattern of fraud. Powers Jr. said attorneys instead will only begin picking the jury next Monday, in a process that may take several days.
HSBC and ING said the technology is "perfect" for trade because it keeps an unchangeable log of the transaction and details of the products being bought or sold.
Despite their general hostility towards cryptocurrency industry, a growing number of banks have started embracing its underlying technology-the blockchain.
Incremental North Korean denuclearisation will be unacceptable - South Korea official
Trump, a businessman-turned-president, must have kept in mind his signature "art of the deal". Secretary of State Mike Pompeo in Pyongyang after his China trip, according to the Yomiuri.
HSBC Holdings Plc (HSBA.L) said on Monday it has performed the world's first trade finance transaction using a single blockchain platform, in a push to boost efficiency in the multi-trillion-dollar funding of global trade. "The quick turnaround could mean unlocking liquidity for businesses", HSBC's head of growth and innovation was quoted saying in a statement.
Experts have said that with blockchain being heavily decentralised, various parties are linked by computers accessing the same network, resulting in a digital ledger that could prove to be very useful for the banking sector. HSBC's pioneering use of blockchain shows the potential for this nascent technology to revolutionise many aspects of the financial sector beyond cryptocurrencies.
Banks have invested millions in developing blockchain applications in a bid to cut costs and simplify back office processes, such as the settlement of securities trades.
Corda is supported by 12 banks, and it seems an effective backup to expand the technology broadly in the global market.
Council estate chemical boss Jim Ratcliffe tops Sunday Times rich list
That, however, includes the assets of his wife, Nancy Shevell , who is the heiress to a huge trucking business. And pop rocker Robbie Williams also enjoyed a £ 15m bump up the list bringing his total worth to £165m.