Collaboration with Wave helps to simplify exchange of documents

Collaboration with Wave helps to simplify exchange of documents
28 November 2017   454

BBVA (Banco Bilbao Vizcaya Argentaria) has launched a system for paperless trade

transactions, which involves using of blockchain technology. Partnership of BBVA and Wave allow for cutting time of document submission. Earlier it took from 7 to 10 days but such a technology helps to reduce waiting time to 2,5 hours.

The first bargain with using this system was a transaction between Spain and Mexico. Usage of letter of credit, which is the most way to pay for wares in international trade, implies preparation of a pile of documents and the main problem during that process is a big probability of human error.

The new technology allows to validate a bargain for both parties simultaneously with using of electronic signature. The information about goods can be changed until wares are received in the buyer’s country thanks to Wave’s system.

The pilot proved that the blockchain can be used in international trading system and will help to simplify transactions.


DFINITY to Postpone Internet Computer Launch

The project is currently assessing the time frame for the completion of the MVP
14 December 2018   88

The blockchain project Dfinity reported in its blog postponing the launch of its main product.

Previously, Dfinity chief scientist Dominic Williams said that his company intends to create an “Internet computer that will become cloud 3.0”, compete with Google Cloud and Microsoft Azure, and also change the face of the blockchain industry.

According to him, the project team is developing a technology that has 150 higher performance than Ethereum blockchain and 900 times - Bitcoin. In essence, the project creates a “giant Internet computer”, whose work will be supported not by one company, but by all participants of the Dfinity protocol.

Initially, the release of a minimum viable product (MVP) was planned for the first quarter of 2019. However, according to company representatives, working on a trimmed version may slow down progress in creating a complete product.

The project is currently assessing the time frame for the completion of the MVP. Also, noted in Dfinity, before the end of the first quarter a new set of development tools (SDK) will be released, which will shed light on the future plans of the company.

In August, the Dfinity Foundation attracted $ 102 million of investments in the framework of a closed tokensale. Prior to this, at the beginning of the year, the Dfinity Foundation raised $ 61 million from Andreessen Horowitz and Polychain Capital.