The British multinational banking giant HSBC has successfully completed a blockchain-enabled Letter-of-Credit (LC) transaction. The Bank announced that it was propagated between South Korea and Vietnam. This marks the first blockchain LC operation for both countries and seventh in the world in general.
One of the largest financial services companies, HSBC Holdings Plc, reported that it had conducted the world’s first finance operation using blockchain technology. The financial technology is expected to improve the efficiency of financing international trade significantly.
Daniel Boutrin, a former security and cryptology expert at the central bank of France, and now the head of research at Banco de Desenvolvimento de Minas Gerais in Paris, who has been working in the banking and finance industry (JP Morgan, BNP, HSBC, Société Générale, Crédit Agricole) for twenty years and has been working with blockchain for two years, makes statement against using Bitcoin and Blockchain.