An initiative involving R3, a Blockchain consortium of more than 100 financial institutions, the TradeIX trading platform and a group of major global banks. the pilot launch of their trade finance platform, according to a press release on Wednesday, February 21.

The press release explains that the solution is based on the product of R3's distributed accounting technology (DLT). The final goal of the initiative, called Marco Polo, is to develop a "fully interoperable" open-source trade finance network that aims to eliminate or at least simplify existing paper processing in business processes. the supply chain.

has been proven in a continuous test in cooperation with ING, BNP and Commerzbank, according to Ivar Wiersma, Head of Innovation at ING Wholesale Banking.

"The industry has sought solutions to simplify and digitize commerce, providing" Connie Leung of Microsoft, partner of R3 since 2016.

Tuesday, February 20, the Blockchain Alliance R3 has also announced the creation of a Center for Legal Excellence (LCoE)., A group of law firms aimed at educating lawyers around the world on new Blockchain technologies.