• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Bitcoin price prediction Dead cat bounce from $29k worries BTC bulls

    Bitcoin price prediction: Dead cat bounce from $29k worries BTC bulls

    Litecoin price

    Litecoin price prediction: LTC to retest $160 resistance

    Bitcoin mining chips

    Bitcoin mining chips scarcity: Samsung planning to Bankroll chip making plant

    Bitcoin whale Bitcoin US Senator Circle CEO Bitcoin adoption BitMEX Mobile app Max Keiser Bank Crisis Bitcoin price Nasdaq listed MicroStrategy

    Bitcoin whale MicroStrategy invests more in Bitcoin during dip

    Polkadot price

    Polkadot price prediction: DOT to rise to $20.00

    Litecoin price prediction

    Litecoin price prediction: LTC rebounds after failing to reach $120

    Bitcoin mining

    Bitcoin Miners in China hit with dearth of chips

    Ripple Price Prediction 22.01.

    Ripple price prediction: XRP rejecting further upside at $0.31

    Ethereum price

    Ethereum price prediction: ETH to retest $1,400 resistance

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Bitcoin price prediction Dead cat bounce from $29k worries BTC bulls

    Bitcoin price prediction: Dead cat bounce from $29k worries BTC bulls

    Litecoin price

    Litecoin price prediction: LTC to retest $160 resistance

    Bitcoin mining chips

    Bitcoin mining chips scarcity: Samsung planning to Bankroll chip making plant

    Bitcoin whale Bitcoin US Senator Circle CEO Bitcoin adoption BitMEX Mobile app Max Keiser Bank Crisis Bitcoin price Nasdaq listed MicroStrategy

    Bitcoin whale MicroStrategy invests more in Bitcoin during dip

    Polkadot price

    Polkadot price prediction: DOT to rise to $20.00

    Litecoin price prediction

    Litecoin price prediction: LTC rebounds after failing to reach $120

    Bitcoin mining

    Bitcoin Miners in China hit with dearth of chips

    Ripple Price Prediction 22.01.

    Ripple price prediction: XRP rejecting further upside at $0.31

    Ethereum price

    Ethereum price prediction: ETH to retest $1,400 resistance

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Blockchain News

DBS-Trafigura partnership to roll out blockchain trading platform in Singapore

Manasee Joshi by Manasee Joshi
November 6, 2019
in Blockchain News
2 min read
DBS-Trafigura partnership to roll out blockchain trading platform in Singapore
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

Singapore-based multinational bank DBS and energy company Trafigura have joined forces with several other industry leaders to launch a blockchain trading platform in Singapore that reduces document transit time by days.

DBS Bank and Swiss commodities trading company Trafigura have collaborated with the International Chamber of Commerce (ICC), Infocomm Media Development Authority (IMDA) and Enterprise Singapore and trade tech Perlin to design an open-source blockchain trading platform that will drastically reduce trade document transit time from forty-five days to twenty days and automate the otherwise tedious paper-based trade processes.

The platform’s maiden trade run will be carried out from Africa to China on 6th November 2019 and carry around twenty million US dollars ($20 million) worth of iron ore.

RelatedPosts

UK hospitals are tracking COVID-19 vaccines temperature using blockchain

Mitsubishi to optimize energy trading on blockchain

China’s BSN is building a Universal Digital Payment Network

Real-world Resource Tokenization: Bringing Trillions Of Dollars To The Blockchain

Blockchain trading platform to streamline trade logistics

The ingenious ICC TradeFlow platform is designed using IMDA’s TradeTrust network infrastructure and based on Perlin’s blockchain technology. Reportedly, it will streamline trade between digitized harbors like Singapore and countries that follow traditional paper-based trading practices.

All stakeholders on the blockchain network will be able to send, receive, and monitor trade instructions live, thereby decreasing the end-to-end document transit time by half.

Tan Su Shan, who is heading the institutional banking services at DBS, confirmed the news by saying that the goal is to exploit each others’ expertise and knowledge in commodities trading and finance and utilize it to serve our customers in a faster and more efficient way.

With each passing day, the platform will be assessed for further improvements, and more enhancements will be made in terms of background information, credit ratings of trade participants, vessels, and couriers to build trust among stakeholders, DBS confirmed.

The platform will not only reduce inefficiencies and complexities arising due to paper-based cross-border trading practices but also cut down operating costs for companies, risks of fraud, and errors in documentation.

Meanwhile, this isn’t the firm time Singapore has entrusted its trade logistics to blockchain technology. Last month, the Singapore Shipping Association embraced the technology to simplify ship registration and renewal procedures. At the same time, Thailand used IBM’s TradeLens blockchain solutions to bring about drastic transformation in its shipping industry by offering tamper-resistance efficient workflow systems.

Manasee Joshi

Manasee Joshi

An avid reader and an enthusiastic writer, Manasee recently chose to dedicate her time doing freelance writing. A degree in English literature and experiences in Administration, HR, finance, literature, creativity and innovation tucked under her belt, she crafts engaging and compelling content for crypto and blockchain audience.

Related Posts

UK hospitals are tracking COVID-19 vaccines temperature using blockchain
Blockchain News

UK hospitals are tracking COVID-19 vaccines temperature using blockchain

January 19, 2021
Mitsubishi to optimize energy trading on blockchain
Blockchain News

Mitsubishi to optimize energy trading on blockchain

January 18, 2021
Bitcoin mining chips
Blockchain News

China’s BSN is building a Universal Digital Payment Network

January 17, 2021

Follow Us

  • 40.6k Fans
  • 8.3k Followers

Latest News

Bitcoin price prediction Dead cat bounce from $29k worries BTC bulls

Bitcoin price prediction: Dead cat bounce from $29k worries BTC bulls

January 23, 2021
Litecoin price

Litecoin price prediction: LTC to retest $160 resistance

January 23, 2021
3 Great Places to Buy Bitcoin In 2021 1

3 Great Places to Buy Bitcoin In 2021

January 23, 2021
Bitcoin mining chips

Bitcoin mining chips scarcity: Samsung planning to Bankroll chip making plant

January 22, 2021
Bitcoin whale Bitcoin US Senator Circle CEO Bitcoin adoption BitMEX Mobile app Max Keiser Bank Crisis Bitcoin price Nasdaq listed MicroStrategy

Bitcoin whale MicroStrategy invests more in Bitcoin during dip

January 22, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 2

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.