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BlockChain use-case Rice field to Trade finance.

Use of Blockchain is expanding and following two use cases in different industries (Trade Finance and Supply chain for Rice) says a lot about its potential adoption and acceptance

Blockchain-based Letter of Credit(LC).

#HSBC, #ING Bank Brussels, #R3(through Corda), #Reliance Industries and #Tricon energy (USA) has successfully executed a #Blockchain enabled Letter of Credit (LC). INGBank issued the LC for Tricon Energy and HSBC India was the advising and negotiating bank for Reliance Industries. The end-to-end transaction was executed on R3’s Corda blockchain platform.

https://www.thehindubusinessline.com/info-tech/in-a-first-hsbc-makes-overseas-payment-for-ril-via-blockchain/article25418104.ece

Blockchain-in-trade-finance_Piyush Singh FinTech

Another use case is being explored by #Oxfam in Cambodia for #BlocRice “Blockchain for Livelihoods from Organic Cambodian Rice (BLOCRICE)”

The project tests the application of blockchain technology in the rice value chain along with:

1. Smart contracts 2. Cashless payments to rice farmers 3. Consumer communication

What are you using the Blockchain for Insurance? KYC? Payment Gateway? Voting? please share your thoughts

#TheFinTechReporter

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