Collaboration with Wave helps to simplify exchange of documents

Collaboration with Wave helps to simplify exchange of documents
28 November 2017   543

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.


Most Crypto-Optimists Live in Norway, Bitflyer Study

According to bitFlyer's poll on future of crypto, europeans believes cryptocurrency has future
24 April 2019   103

Most Europeans believe that in ten years digital currencies will continue to be in demand, but they do not have the same confidence about Bitcoin. This is reported by Cryptonews, citing a study of the bitFlyer.

10 thousand people from ten European countries took part in the online survey. Of these, 63% believe in a “bright future” cryptocurrency. However, not all Europeans are confident in the future of Bitcoin - only 55% believe that the first cryptocurrency will exist in ten years.

It is also noteworthy that, despite the fall in prices of most cryptocurrencies that lasted for almost a year, the majority of respondents positively assessed the prospects for the development of the market.

Most of the “crypto-optimists” turned out to live in Norway - 73% of the inhabitants of this Scandinavian country are convinced that a decade later, digital currencies will still be in society. This is followed by Italy (68%), the Netherlands and Poland close the top four (67% each).

The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time
The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time

But the exact form of cryptocurrency will exist, almost no one knows. Only 8% believe that they will become money, and 7% - a tool for investment or a means of preserving value.

The fact that Bitcoin is not generating as much support as other cryptocurrencies is in part a symptom of the market’s volatility, but is also a direct impact of the constant media attention that is associated to its volatility.

Andy Bryant

COO, bitFlyer Europe

He also added that the study demonstrated how much remains to be done to increase public awareness of the benefits and opportunities of cryptocurrencies.