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Hong Kong: CargoSmart and eTradeConnect Successfully Test Blockchain Solution to Improve Global Trade

HSBC, HKMA, and Ten Other Banks Join Forces to Launch Blockchain-Based Trade Finance Platform

The Hong Kong Monetary Authority and several major banks facilitated the development of a proof-of-concept (PoC) for the creation of a multi-bank blockchain consortium which aims to improve global trade through enhanced collaboration among shippers, banks, terminal operators, and ocean carriers. The announcement was made by CargoSmart, the PoC development company, on November 5. A

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