Oman Sees First Trade Finance Transaction on Blockchain 4596

Oman Oil and Orpic Group and HSBC Bank Oman SAOG have conducted the first trade finance transaction on the blockchain in the country using R3’s Corda platform.

As news publication the Oman Observer reported on Nov. 23, Oman Oil and Orpic Group — one of the largest oil and gas businesses in Oman — and HSBC Bank executed the country’s first blockchain-based trade finance transaction: a sale of polypropylene to Abu Dhabi National Carpet Factory. The transaction was carried out using R3’s Corda, an open-source blockchain platform.


Post a Comment