Reliance Industries receives India's first LC payment via blockchain

Posted on:05 Nov 2018 11:21:04
Reliance Industries receives India's first LC payment via blockchain
05 November 2018 Current Affairs: In a first for India, British bank HSBC Holdings Plc has executed a trade finance transaction using blockchain for a deal involving an export by Reliance Industries to an American client, Tricon Energy.

Blockchain massively reduced the time taken for processing the documents.
In a first for India, British bank HSBC Holdings Plc has executed a trade finance transaction using blockchain for a deal involving an export by Reliance Industries to an American client, Tricon Energy.

Blockchain massively reduced the time taken for processing the documents.

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