• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Bitcoinist_Hackathon
Nexo

BNP Paribas Confirms Belief in Distributed Ledger Technology For Financial Purposes

Jp Buntinx by Jp Buntinx
6 years ago
in Bitcoin, Bitcoin Breaking News Brief, Bitcoin Technology, Blockchain, Breaking Bitcoin News, Breaking News, News, News teaser
2

BNP Paribas has been working on blockchain technology for quite some time now, and its efforts went well beyond an in-house development team. Just a few days ago, their very first blockchain Bizhackathon took place, with the sole purpose of finding use cases for distributed ledger technology in the banking world.

Also read: Bitit CEO: ‘Gift Cards Are a Good Solution’ for Bitcoin Adoption

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The BNP Paribas Blockchain Bizhackathon

Bitcoinist_Hackathon BNP Paribas

Even though it is crystal clear for anyone in the world of Bitcoin and blockchain technology to see why distributed ledgers are a powerful tool for the financial sector, coming up with the right uses is a key element in making these efforts succeed. BNP Paribas has confirmed their commitment to using this technology now that their Blockchain Bizhackathon has concluded.

There are various aspects of finance that can benefit from distributed ledger technology, but BNP Paribas’ hackathon focused on two important segments. Both trade finance and cash management are the main sectors that need a technological overhaul in the eyes of BNP Paribas’ Corporate Trade and Treasury Solutions team.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

As one would come to expect from such a hackathon event, there was a lot of interest from developers and entrepreneurs who want to explore the boundaries of distributed ledger technology. In total, over 70 participants gathered to create proper use cases for this technology, while also helping BNP Paribas provide optimal services.

BNP Paribas Head of Corporate Trade and Treasury Solutions Marc Carlos stated:

“Our first ‘bizhackathon’ helped us to highlight the opportunities of the blockchain for our flow financing activities and our financial services to corporate treasurers, as well as its potential applications to improve our practices, review and optimise our processes, and reinforce the reliability, traceability and security of our transactions”.

With a large focus on both the customer experience and making existing services more efficient, several interesting projects were brought to the table. All of the ideas that are worth pursuing will be analyzed further in the next year. If the proof of concept holds up in the live business world, distributed ledger technology might make its way to BNP Paribas services all over the world.

A Big Commitment By BNP Paribas

Bitcoinist_Hackathon BNP Paribas Blockchain

It is not the first time the French bank strengthens its ties with the digital currency ecosystem. Not too long ago, the bank invested in Digital Asset Holdings, as they saw the potential this company is offering to find bright minds in the world of Bitcoin and blockchain. Furthermore, BNP Paribas is active as part of the R3 consortium, as well as the CDC initiative.

Other banks are keeping a close eye on the evolution of blockchain technology as well. While it remains to be seen how BNP Paribas and consorts will implement distributed ledger technology in the future, this news should be seen as a vote of confidence by the traditional financial world.

What are your thoughts on the move by BNP Paribas? How can the blockchain help their business? Let us know in the comments below!

Source: Finextra

Images courtesy of Shutterstock, BNP Paribas

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jp Buntinx

Jp Buntinx

JP Buntinx is a freelance Bitcoin writer and Bitcoin journalist for various digital currency news outlets around the world. In other notes, Jean-Pierre is an active member of the Belgian Bitcoin Association, and occasionally attends various Bitcoin Meetups in Ghent and Brussels

Related Posts

Follow The Money screenshot

Let’s Dissect The “Follow The Money #1” Documentary, Pt. 1- Salvadoran Confusion

52 mins ago
Magic Johnson

Magic Johnson Unveils NFTs Showcasing The Basketball Legend’s Iconic Moments

2 hours ago
Peter McCormack screenshot

Wright Vs. McCormack, The Bitcoin Trial Of The Year Began In London

6 hours ago
Bitcoin BTC BTCUSD

Rich Dad Author Recommends Bunkering Down With Food, Guns, And Bitcoin

19 hours ago
liquidations

Liquidations Settle As Bitcoin Regains Footing Above $30,000

20 hours ago
Balenciaga

Balenciaga To Accept Bitcoin And Ethereum Payments In The U.S.

21 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

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