HSBC Completes First Trade-Finance Deal Using Blockchain, Opening $9 Trillion Market For Mass Adoption

Just a few hours after German online bank Bitbond announced it now allows users to transfer loan anywhere in the worldusing bitcoin and other cryptos , a move which we said would result in a rapid adoption of blockchain technologies within the bank-disintermediation space, the FT reportedthat in a somewhat parallel transaction, UK-based banking giant HSBC has completed the world’s first commercially viable trade-finance transaction using blockchain,in the process opening the door to mass adoption of the technology in the $9tn market for trade finance, a process which ironically culminates with traditional banks such as HSBC becoming disintermediated from the fund flows process, i.

e., obsolete.