Not a Consortium: Banks Form For-Profit Entity for Blockchain Supply Chain

Not a Consortium: Banks Form For-Profit Entity for Blockchain Supply Chain

A group of eight major banks is close to forming a new kind of blockchain venture. In contrast to the consortium models common to the sector, We.Trade recently revealed plans to move much of the European supply chain trade finance to a Hyperledger blockchain . Yet, it’s how the group is taking its technology to market that sets it apart: hardly another non-profit, the founders (which include KBC, Deutsche Bank and HSBC) have a direct equity stake in the project’s success. With a tiered membership built to serve a single, valuable use case, and licensing members to use it, […]