One of the biggest German banks Commerzbank and multinational conglomerate Thyssenkrupp spent on the blockchain the platform R3 Corda forward currency contract and transferred 500 thousand Euro in Polish zloty.
According to the statement of Commerzbank, the new technology can reduce delays and errors that can occur when traditional operations manually. Also, as the blockchain data is still intact, you can not worry about the reconciliation of transactions that usually represents the main difficulty when carrying out foreign exchange operations.
Despite a successful surgery, Commerzbank intend to further explore the possibilities of technology, distributed registry, in order to develop “technical, regulatory and legal requirements” to make full use of its advantages.
Recall that a week ago the mobile operator MTS and Sberbank CIB has closed the first in Russia transaction of the full cycle placement of commercial bonds on the blockchain.