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22 Dec 0

BNP Paribas Blockchain used for live transactions

A well-known worldwide seller and another important firm partecipated to the first live transactions using the BNP Paribas Blockchain service, as revealed today by the bank itself.

According to BNP Paribas, in fact, payments were processed between the Italian sports collectible firms Panini Group and the Australian packaging firm called Amcor.

The payment transactions were managed in a few minutes – the bank explained in the official press release – using different currencies to make transactions easier between bank accounts located in Germany, Netherlands and England.

Panini Group treasurer Fabrizio Masinelli commented in a statement:

“This proof-of-concept shows how powerful such technology can be and how it can be utilised as an effective and efficient response to the main issues that treasurers face on a daily basis.”

BNP Paribas Blockchain Proof of Concept

The transactions were managed by using the proof of concept called Cash Without Borders launched earlier this year after its incubation during a blockchain hackathon.

More Details about the size of the transactions will be revealed in the next future.

Also, the BNP Paribas blockchain service tested the so-called “mini-bonds” for small investments, as well as blockchain crowdfunding prototypes that might see the light next year.

According to the Panini Group’s official website, the company earned 751m euros in 2014 and employs 1,000 people worldwide.

Also, during the same year, Amcor earned  $10b in sales and employs 29,000 employees.

To read more about the BNP Paribas Blockchain service click here.

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Amelia Tomasicchio
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adoption, bitcoin, bitcoin news, blockchain, cryptocurrency, news
BNP Paribas Blockchain: banks love the distributed ledger
28 Jun 0

BNP Paribas Blockchain: banks love the distributed ledger

A few days ago BNP Paribas revealed its new project related to the Blockchain: a lab that will study the distributed ledger technology with the goal of building new solutions for data and money management, as well as a tool to help users in case of liquitidity needs.

BNP Paribas Blockchain: a partnership with SmartAngels

Previously this year, BNP Paribas announced its interest in the blockchain technology when it started a partnership with SmartAngels, a crowdfunding platform that will help the bank to develop a project to be launched by the end of 2016.
According to the press release published in April, BNP Paribas would develop a ledger for shares in companies through the blockchain.
Also a few months ago BNP confirmed its interest in the blockchain for financial applications and announced that they were working on their own blockchain called Bizhackathon, that aims at finding use cases for the distributed ledger technology in the banking system.

Growing interest in Blockchain

All the central banks worldwide are expressing their own interest in the distributed ledger and digital currencies.
For example, recenlty we talked about the idea of the Central Bank of Canada to create its own digital currency called CadCoin.
Also, another revevant news on banks and cryptocurrency came yesterday when the Dutch Central Bank revealed its tests on the blockchain. 

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Amelia Tomasicchio
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Articles
5 Apr 0

BNP Paribas to develop a blockchain project

Today BNP Paribas Group has announced a new partnership that aims at allowing private companies to issue securities through the blockchain ledger.

The partnership is between BNP Paribas Securities Services and SmartAngels, a crowdfunding platform that will help BNP Paribas in a pilot project to be launched within the end of 2016.
According to a press release, BNP Paribas will develope and manage a ledger for shares in companies through the blockchain.
The main goal is to allow non-listed companies crowdfunded on SmartAngels to issue their shares on the primary market, and allow investors an access to the secondary market based on blockchain technology.
The BNP press release explained:
“Investor payments will be processed immediately and e-certificates will be issued to them straight away. Financial transactions made via the platform will therefore be performed simply, quickly, securely and for a lower cost.”

BNP Paribas believes in the Blockchain

BNP Paribas is not new in the blockchain sector.
A few months ago, in fact, BNP confirmed its belief in distributed ledger technology for financial purposes and announced that they were working on blockchain technology.
Also, BNP Paribas previously created their blockchain Bizhackathon, with the objectives of finding use cases for distributed ledger technology in the banking system.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
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Articles, blockchain, bnp paribas, bnp paribas securities services, crowdfunding, partner, partnership, project, security, smart angels

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