Bank of America, Microsoft Partner on Blockchain Trade Finance

Bank of America, Microsoft Partner on Blockchain Trade Finance

Bank of America and Microsoft have announced their intent to build and test blockchain applications for trade finance. As part of the deal, Bank of America will work directly with Microsoft Treasury (a group responsible for managing transactions related to its corporate treasury activity and strategic business investments and acquisitions), to establish a blockchain system that can facilitate transactions between the companies. In statements, Microsoft executive vice president and CFO Amy Hood indicated that the move is driven also by its desire to reduce treasury risk. Hood said:....


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