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Data for this episode of Truth In Data provided by Mercator Advisory Group’s report – Blockchain B2B Is Starting to Turn the Corner
- IBM World Wire: is the most recent blockchain network for cross-border payments, and likely a distribution play vs. novel concept
- JP Morgan Interbank Information Network:
runs Quorum, an Ethereum blockchain variant, has over 200 banks in network and will use JPM Coin for cross border payments - Ripple: more than 200 banks use the RippleNet network which utilizes a “stablecoin” or fiat currency
- VISA B2B Connect: uses the Hyperledger Fabric framework and APIs to allow partner banks to develop B2B payments for cross-border & cross-currency exchange
- SWIFT gpi: adopted by 3,500 banks – and though it does not currently offer a blockchain solution, Mercator expects it to
About the report
The scale remains small, but blockchain technology is moving beyond pilots into the next phase. Financial institutions have invested much in the applicable corporate solutions, and real solutions will start to bear fruit in the near future.
Summary
Title
Five Blockchain Developments in Cross Border Transactions:
Description
A recent Mercator Advisory Group report takes a look at 5 blockchain developments in cross border transactions currently in use.
