HSBC, ING execute RIL blockchain transaction

HSBC India and ING Bank Brussels have successfully executed a blockchain- enabled Letter of Credit (LC) transaction between Reliance Industries (RIL) and Tricon Energy. This is an industry-first, as the blockchain platform integrates with Bolero’s electronic Bill of Lading (eBL) platform to issue and manage an eBL. This allowed a digital transfer of the title of goods from the seller to the buyer.

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