The Blockchain Technology at the top of the World.
Blockchain technology remains at the top of the world challenging traditional global financial services, which is designed to build security according to customer needs. Thanks to Blockchain technology, money can be sent directly and safely to another person without a bank, a credit card or PayPal. In addition, the user information remains private and secure and the entire transaction is transparent and incorruptible. It is not necessary to trust the other because trust is intrinsic to the system.
In the same way, this technology has favored the growth of entrepreneurs and applied in different uses. With an additional detail: this technology joins its disruptive capacity, extremely low entry barriers, which allow virtually any company, regardless of its size or resources, can consider building on it. In this regard, the advances and impact of this technology worldwide are shown below.
The EEA Alliance has announced the launch of Enterprise Ethereum Client Specification (CS) 1.0, an open source cross-platform Blockchain system that allows interoperability for companies that use solutions based on the ethereum Blockchain. Client Specification (CS) 1.0 has been designed to replace the cumbersome and costly multiplatform protocols and allow participants in the EEA from different sectors of the economy to create custom Blockchain systems that meet their specific needs, so that the Enterprise Ethereum Alliance launches a platform to facilitate the interoperability of the corporate Blockchain.
For its part, according to The Korea Times, the Korean Customs Service (KSC) is developing a Blockchain platform with the aim of improving the efficiency of the customs clearance process. The first real-world test will show whether the use of the Blockchain can increase the accuracy and transparency in the issuance of Certificates of Origin, a document used to verify exporters, importers, merchandise and other details.
In turn, the Tel Aviv Stock Exchange launches the first Blockchain lending platform The Tel Aviv Stock Exchange has developed a securities lending platform based on a "pioneer in its class" blockchain. According to a press release, the new platform, created in collaboration with the Israeli company The Floor, the global professional services company Accenture, and Intel, aims to revolutionize the securities lending market in Israel "by allowing direct lending among all major players. financial instruments".
In the same way, the Indian technological giant Infosys has begun to implement Blockchain technology to improve the efficiency of international agreements, according to the company at the Consensus 2018 conference. Infosys Finacle, subsidiary of Infosys, announced the development of a commercial network called India Trade Connect (ITC) in partnership with seven private banks in India, including ICICI, Axis Bank, South Indian Bank and Yes Bank.
The Blockchain-based network has been designed to digitize commercial commercial finance processes and covers areas such as property verification, document certification and payments. The companies hope to increase the transparency of business processes as well as automation with the help of Blockchain.
Sanat Rao, managing director of Infosys Finacle, has said he hopes to attract more banks to the consortium so that they can learn the potential advantages of the Blockchain: "The digitalization of the processes of financing trade through distributed registration technology offers a huge potential to eliminate problems, reduce costs and increase revenues through new commercial products ".
Also, Ajay Gupta, senior general manager of ICICI Bank, recently announced the creation of a supply chain based on Blockchain with the participation of more than 250 companies, said the association will "automate processes, increase transparency and increase the efficiency of commercial operations and the supply chain ". In the future, the group aims to create an "integral Blockchain ecosystem, which will contribute to a wider adoption of this technology".