$80,407.00
-2.38%$1,897.77
-8.14%$2.12
-3.49%$541.27
-4.18%$123.55
-3.42%$0.999878
0.00%$0.727671
-1.91%$0.159539
-7.90%$0.230754
-1.61%$1,892.89
-8.26%$80,222.00
-2.20%$1.40
0.52%$9.75
-1.49%$0.195335
-6.25%$12.88
-8.73%$1.00
0.02%$2,261.90
-8.46%$0.249827
-6.15%$16.97
-7.16%$2.20
-7.25%$0.00001172
-4.92%$89.00
-7.60%$336.04
-6.78%$2.60
-3.65%$6.35
3.59%$3.97
-4.96%$0.998861
-0.07%$1,898.11
-7.99%$1.001
0.21%$4.14
-4.75%$14.29
-1.50%$28.45
-0.75%$2,013.47
-8.04%$203.24
-3.00%$80,378.00
-2.02%$5.89
-11.31%$1.044
0.21%$5.38
-4.28%$2.42
-5.99%$181.13
-6.33%$17.25
-3.90%$0.811268
-6.79%$5.23
-6.52%$0.00000596
-2.43%$41.01
-2.20%$19.57
-2.42%$80,338.00
-2.47%$0.688794
3.09%$0.082262
-0.15%$0.409318
-10.21%$26.61
-1.26%$1.001
0.31%$10.54
-4.86%$0.02323492
-7.59%$235.27
-7.83%$0.209961
-6.69%$2.71
-5.70%$3.99
-0.22%$0.192694
-6.46%$3.61
-7.89%$2.86
-7.58%$0.058374
-6.85%$2.85
-8.30%$0.330279
-7.32%$0.999642
-0.16%$0.43057
-5.09%$11.09
-1.18%$5.48
5.03%$0.498443
-1.03%$0.825934
-6.11%$80,320.00
-2.19%$0.499306
7.56%$0.457977
-15.34%$1,898.99
-7.72%$1,967.04
-8.32%$72.56
-4.66%$0.065949
-6.84%$1.004
-8.43%$17.37
-0.32%$0.997588
-0.01%$1,128.98
-3.37%$2,127.23
-8.63%$0.60002
-5.80%$9.28
-7.77%$0.01453206
-4.38%$0.496779
-7.71%$0.18701
-7.50%$0.799767
-3.98%$0.998959
-0.23%$0.087223
-7.27%$0.825944
-8.87%$128.31
-3.29%$79,968.00
-1.76%$0.886552
-13.35%$0.00000992
-4.53%$2,010.26
-7.85%$0.471133
-5.28%$2,887.97
-0.61%$1.00
0.06%$0.00000069
-2.19%$0.652765
-6.17%$0.999506
-0.04%$0.01539245
-6.11%$541.87
-3.94%$0.267986
-4.05%$80,142.00
-2.57%$2.13
-2.30%$0.175252
-2.80%$1.00
-0.03%$1.00
0.00%$31.39
-4.12%$0.01274048
-8.70%$5.75
-3.33%$2,901.78
-0.35%$157.15
-3.24%$1,970.05
-8.12%$0.380855
-5.00%$0.101945
-6.99%$0.00005837
-4.59%$0.998859
-0.05%$16.59
-8.22%$7.51
-7.64%$1.002
0.25%$0.142242
-5.84%$134.71
-3.19%$0.386425
0.13%$0.071893
5.84%$0.00540116
-14.32%$0.997567
-0.05%$17.59
-6.49%$29.70
-4.82%$2.96
-5.44%$0.250401
-5.52%$1.59
-7.25%$0.999887
0.01%$0.419296
1.67%$77,631.00
-3.80%$2.52
-3.00%$1,897.23
-8.15%$0.719513
-8.98%$0.446475
-3.40%$0.00000045
-0.77%$2,008.74
-8.14%$1.51
-3.31%$1,896.71
-8.12%$0.548604
-8.03%$80,383.00
-2.15%$0.04340393
-3.18%$0.150012
-5.63%$0.998128
0.01%$81,250.00
-1.73%$110.26
0.02%$0.159805
-7.68%$1.078
-0.03%$0.514096
-10.04%$0.992286
-0.67%$0.01208947
-8.31%$0.00001998
-3.07%$1,892.99
-8.15%$1.089
-0.53%$0.385658
-6.08%$5.88
-9.34%$1.092
-12.89%$0.473481
-5.52%$0.074698
-9.01%$0.210657
-7.02%$0.573194
-11.10%$0.00581832
1.35%$0.866299
-9.28%$1.50
-15.69%$22.11
-2.04%$40.40
-8.51%$5.33
0.14%$1,926.62
-8.02%$80,220.00
-2.32%$4.30
6.72%$2,000.27
-6.92%$1.37
-9.11%$1.99
-4.81%$0.999033
-0.06%$0.352005
-9.43%$1.001
0.29%$0.0038413
-5.97%$0.00005914
-1.04%$119.89
-7.21%$1.24
9.95%$0.0305689
-2.16%$1,874.36
-8.22%$0.246252
-5.17%$0.02877832
-8.77%$2,069.36
-8.23%$1.19
-7.65%$0.00507529
-7.90%$0.999843
-0.00%$0.00530604
-8.43%$1,897.50
-8.03%$0.29296
-25.10%$0.791564
-7.57%$1.10
-6.45%$0.235706
-9.43%$0.194369
-9.04%$0.26574
-2.96%$0.529559
-3.48%$2.76
-6.55%$21.41
-4.47%$1,999.05
-8.05%$0.129484
-11.89%$80,217.00
-2.26%$0.00000012
-0.01%$1,613.76
-2.29%$15.75
-5.80%$79,820.00
-3.13%$0.03652318
-5.47%$1,896.43
-7.96%$2,057.80
-8.18%$1,873.85
-8.69%$0.084569
-9.63%$0.066664
-7.81%$2,894.71
-0.54%$0.557116
-7.80%$0.237332
-8.01%$0.228598
-0.62%$0.01161817
-2.12%$0.03363023
-7.23%$0.999803
0.01%$0.02919691
-4.54%$0.098415
-6.21%$0.00296904
-5.60%$2.17
-0.26%$2.06
-2.15%$0.00462661
-6.84%$0.142503
-6.85%$0.385335
-5.17%$0.999461
-0.02%$2,031.98
-7.92%$0.00233136
-4.14%$0.00195882
-7.57%$80,442.00
-2.06%$0.235661
-5.02%$0.18245
-4.13%$0.02972945
-8.85%$0.547925
-7.80%$0.995825
-0.13%$0.07879
-6.20%$5.05
-8.71%$4.89
-10.28%$0.00213887
-8.35%$0.450986
-8.28%Reading
Contour, a trade finance platform that uses blockchain technology to significantly speed up various traditionally slow and bureaucratic processes, has finished its beta-testing period and went live, Global Trade Review reported today.
We’re excited to announce the world’s first global, decentralised, digital trade finance platform using #Blockchain technology has gone live this week to coincide with #Sibos2020: https://t.co/sDn94nqD9z
— HSBC (@HSBC) October 6, 2020
First conceived as Voltron back in 2017 and built on R3’s Corda platform, Contour is owned by eight shareholder banks—Bangkok Bank, BNP Paribas, CTBC, HSBC, ING, Standard Chartered, SEB and Citi. The platform allows institutions and companies to securely transact and view information via a global blockchain-based network.
However, the platform is a private blockchain—akin to a database shared among several members. So it isn’t decentralized, like BitcoinBitcoin.
If @HSBC tweets about it you can be sure of 1 thing: it definitely isn't decentralised.https://t.co/wjXFVxBJsD
— WhalePanda (@WhalePanda) October 6, 2020
At launch, Contour’s main goal is to optimize the letter of credit (LC) processes between parties. Currently, it can take an average of 10 days to process the LC using traditional methods. This is because many jurisdictions are still only recognizing documents that are printed on paper and signed, which requires a lot of slow manual processing.
To remedy this, Contour’s members created a special rulebook and membership agreement that is “robust, but as simple as possible,” noted the platform’s CEO Carl Wegner. With its help, the developers managed to reduce the LC processing time by up to 90%—24 hours instead of 10 days.
“The rulebook is really important. Rather than having to string together four or five different legal agreements between buyer, seller, buyer’s banks and seller’s banks, which was very onerous, we now have a rulebook which makes it very easy for everybody to sign up and know what their roles and responsibilities are,” added Vinay Mendonca, head of global product at HSBC.
Apart from the eight shareholder banks, it is currently unknown how many members have already joined Contour. According to the outlet’s sources, this figure hovers around 20, including banks such as SMBC, DBS and Standard Bank.
“I am struggling to think of another platform that has got so many banks onboard across different corridors and clients that have already undertaken live transactions and seen the value from it. So, for us, there is the necessary catchment and foundation to drive scale,” added Mendonca.
Following the official release, Contour’s new and existing members will now migrate to the live network environment which will be launched this week.
Elon Musk’s social network X was hit by at least three distributed denial of service attacks Monday that took the site down intermittently worldwide. “There was (still is) a massive cyberattack against X,” Musk posted. “We get attacked every day, but this was done with a lot of resources. Either a large, coordinated group and/or a country is involved.” Musk said the attack was linked to IP addresses in Ukraine during an interview with Fox Business on Monday afternoon. “We’re not sure exactly wha...
In the Wild West of crypto, where scams and fraud remain common, one team is betting on a novel solution: bringing reputation on-chain. Ethos Network, a platform designed to establish credibility and trust in the crypto space, is gaining traction as it tackles one of the industry’s most persistent problems—bad actors. The brainchild of Trevor Thompson (aka Serpin Taxt) and Ben Walther, Ethos was born out of frustration with rampant scams plaguing the space. “I used to do a lot of trading in cryp...
A new Solana proposal aims to change the frequency at which new tokens are generated on the prominent blockchain—and the suggested changes are generating serious debate ahead of the imminent vote. The proposal, also known as SIMD-0228, looks to move from fixed-rate token emissions to a programmatic, “market-based emission” schedule that is based on staking participation rate. In other words, instead of decreasing Solana inflation based on a fixed, time-based schedule, SIMD-0228 proposes that So...
