• Sun, 16 Jun 2019, 10:47 PM
  • All times are UTC
  • Edition:
    International
Link copied

Four banks trial blockchain platform ‘finledger’ for processing promissory note loans

Thu, 23 May 2019, 10:45 am UTC

Four financial institutions have successfully issued a promissory note using a blockchain platform, Cointelegraph reported.

The participating banks – DekaBank, dwpbank, DZ Bank and Helaba – have carried out a pilot transaction that involved the issue of a promissory note loan through a newly created blockchain platform ‘finledger.’

In its press release, Helaba said that the platform offers the opportunity to digitally execute the entire process. It eliminates the need for lenders to physically hold documents or for borrowers to send valuables and enables to execute all individual processes in a matter of seconds.

“The finledger platform reduces the individual steps by more than 50% compared to the previous multi-level processing process,” the release said (translated online).

The pilot transaction marks the first step in finledger's two-step go-live, the release said. For the subsequent phase, the banks will team up with a project-independent partner. They plan to launch the platform for the entire industry.

“As digitization has progressed, our customers' demand for digital services has increased significantly. Thanks to the bundled expertise of four banks, we are now presenting a new platform through which trading transactions can be processed fully automatically,” Peter Tenbohlen, the head of operations at DZ Bank, said.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,039.40 (+2.45%)
  • Ethereum (ETH) $269.58 (+0.16%)
  • XRP (XRP) $0.426000 (+3.86%)
  • Litecoin (LTC) $136.58 (-0.74%)
  • Bitcoin Cash (BCH) $427.03 (+1.51%)
  • Bitcoin (BTC) $9,039.40 (+2.45%)
Jun 14, 2019 (Friday)
10:49
Crypto Technicals: Bitcoin hovers around 20-DMA, poised for upside resumption
10:35
National Fisheries Institute to begin seafood blockchain pilot with IBM Food Trust
09:43
Reuters, Bloomberg, TradingView add support for new cryptocurrency index ‘CIX100’
09:26
Crypto Technicals: Litecoin retraces brief dip below $129, finds strong support at 110H EMA
09:08
Facebook's cryptocurrency project gets big backers including Mastercard, Paypal, Uber, Visa: Report
08:59
Circle to end support for its payment app, to shift to blockchain-based financial projects
07:27
Bitcoin startup Bitrefill closes $2M seed round led by Coin Ninja
07:21
U.S. FDA picks IBM, KPMG, Merck and Walmart to develop blockchain platform for prescription drugs
06:01
Turkey's BKM launches blockchain-based digital certificate platform co-developed with Microsoft and VeriPark
04:47
Bakkt to begin bitcoin futures testing on July 22
03:32
R3, Bradesco, Itau team up to develop blockchain-enabled platform for foreign trade and insurance: Report
02:36
Brazil considers promoting blockchain in public administration in new proposed bill
02:29
FINRA fines, suspends ex-Merill Lynch advisor for crypto mining business
02:25
Less than 5% of GitHub crypto contributors are women: Study
Jun 13, 2019 (Thursday)
11:25
John McAfee launches new cryptocurrency trading platform
10:27
Indian government-backed learning initiative SWAYAM offers free course on cryptocurrencies and blockchain
10:20
Crypto Technicals: ETH/USD consolidates break above 20-DMA, scope for further upside
09:29
Square Crypto announces former Google director Steve Lee as first hire
08:41
FATF to release new policies for global digital asset industry affecting crypto exchanges, custodians, hedge funds: Report
08:33
Crypto Technicals: Bitcoin Cash edges above 21-EMA, signs of bullish resumption
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft