Compelling results for blockchain oil-trade test ING and Société Générale

Blockchain
Smart Contracts
Blockchain Deployments

Summary

On 22 February, ING and Société Générale Corporate & Investment Banking presented blockchain prototype testing results coinciding with IP Week in London together with trading house Mercuria.

Product description

Easy Trading Connect is the first comprehensive platform prototype to be developed which can be expanded and scaled across the commodity and finance domain and uses blockchain technology to overcome some of the industry’s biggest challenges. Applying distributed ledger technology to the commodity trade financing chain can prevent issues such as documentary fraud and allows for the digitalisation of assets. The platform also boosts operational efficiency and quality by introducing auto-checking of documents.

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Contact name
Renée Schnitzler
E-mail
renee.schnitzler@ing.com
Phone
+31 20 576 6371
Location
Netherlands
Company
ING
Published