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Standard Bank turns to blockchain for cross-border trade processes


Feb 26, 2021
Standard Bank Group has partnered with Hedera Hashgraph, an enterprise-grade distributed public ledger, and joined the Hedera Governing Council.
Standard Bank will establish the continent’s first Hedera network node, which is set to solve some of the sore points that have historically beset the development of cross-border trade.
Lengthy settlement periods, information asymmetry between multiple parties involved in a transaction, which ends up creating delays in receiving approval from intermediaries, are some of the challenges that create bottlenecks in cross-border trade. In addition, there is little to no visibility or transparency for all parties involved.
Hedera’s distributed ledger technology (DLT) effectively allows for the sharing of information between two parties involved in a transaction and ensures that that information or data is in fact credible and authentic – without the need for a trusted intermediary. Transactions conducted via t ....

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Standard Bank Group establishes Africa's first Hedera network node to enable much-needed digitisation of cross-border trade processes


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JOHANNESBURG and DALLAS, Feb. 24, 2021 /PRNewswire/  Standard Bank Group, the largest African bank by assets, has partnered with Hedera Hashgraph, an enterprise-grade distributed public ledger, and joined the Hedera Governing Council. Standard Bank will establish the continent s first Hedera network node, which is set to solve some of the sore points that have historically beset the development of cross-border trade.
Lengthy settlement periods, information asymmetry between multiple parties involved in a transaction, which ends up creating delays in receiving approval from intermediaries, are some of the challenges that create bottlenecks in cross-border trade. Further, there is little to no visibility or transparency for all parties involved. ....

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