Global bank HSBC has processed more than 3 million foreign exchange (fx) transactions using blockchain technology. According to a report, the transactions, completed over the past year, were worth $250bn. If previous statements are anything to go by, HSBC likely used a permissioned (aka private) blockchain to carry out the transaction. Private blockchains are typically preferred by regulated financial entities such as HSBC because they provide a workaround the fact that the anonymity of participants is not acceptable in mainstream finance. To put this into perspective, HSBC is one of the largest financial services organizations in the world. It has 7,500 offices in…
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HSBC leans on blockchain tech to process 0bn worth of fx transactions
Source: The Next Web
