European Banks to Test Live Blockchain Financial Trades

The project involved Deutsche Bank, HSBC, KBC, Natixis, Nordea, Rabobank, Santander, Société Générale and UniCredit
03 July 2018   670

A group of European banks announced the successful conduct of a cross-border financial transaction using the we.trade blockchain platform, CoinDesk reports.

The experiment was held for five days with the participation of 10 companies, the operations were processed by four banks using blockchain.

The project involved Deutsche Bank, HSBC, KBC, Natixis, Nordea, Rabobank, Santander, Société Générale and UniCredit. One of the project participants, HSBC Bank, said that three of its clients managed to complete transactions via we.trade within Europe.

In the development of we.trade, which is designed to improve the effectiveness of cross-border financial transactions, the IBM blockchain and the Hyperledger Fabric technology were used.

As we.trade has moved from pilot applications to conducting live transactions across borders, it has demonstrated the power of blockchain technology in an enterprise setting.
 

Parm Sangha

Blockchain Lead, IBM Europe

Currently, we.trade operates in 11 European countries, but it can expand shortly. So, the operational director of the platform Roberto Mancone has already informed that the next step will be the attraction of additional banks and their clients both in Europe and abroad.

Binance to Change Launchpad IEO Rules

Binance is going to implement the lottery format for the next tokensale campaign
25 March 2019   24

Binance announced a change in the format of the next tokensale on the Launchpad platform to a lottery. At the same time, the number of lottery tickets per account will depend on the size of the steak in the BNB for 20 days before IEO.

Note that one account can get up to 5 lottery tickets. Winners will be selected by randomizer.

BNB Balance to Lottery Tickets Ratio
BNB Balance to Lottery Tickets Ratio

It is noteworthy that within 20 days before the lottery, the BNB-deposit snapshot will be carried out daily at 0:00 UTC to monitor the fulfillment of the conditions.

Each winning ticket will grant the right to purchase tokens for a fixed amount in BNB equivalent. As soon as the user informs the exchange that he is ready to use a certain number of tickets in case of their winnings, this obliges him to purchase tokens and the money will be debited automatically.

Binance acknowledged that the price of BNB may fluctuate due to daily snapshots, and its potential decline may not be covered by the benefit from the new token, and encouraged users to make informed decisions.

In addition, Changpeng Zhao urged the community to comment on the new format in a separate Twitter thread in order to make the necessary feedback-based changes, if needed.

During the Celer Network tokensale on the Launchpad platform again had bandwidth problems; many people did not manage to purchase tokens.