The Commonwealth Bank just used blockchain in a ‘world first’ global transaction

The Commonwealth Bank just used #blockchain in a world first global transaction #bitcoin

  • The trade involved an open account transaction, mirroring a traditional bank letter of credit, between the seller (Brighann Cotton of the US), the buyer (Brighann Cotton Marketing Australia), and their banks (Wells Fargo and Commonwealth Bank).
  • “In the case, we demonstrated how a new approach to trade could benefit a joint Wells Fargo and Commonwealth Bank customer, Brighann Cotton,” he says.
  • The Commonwealth Bank and Wells Fargo used blockchain in what they say is a world first global trade transaction between independent banks for a shipment of cotton from Texas to Qingdao in China.
  • Blockchain, the technology behind digital currency bitcoin and now being used to simplify secure financial transactions, has been applied for the first time in a deal facilitated by an Australian bank to sell cotton to China.
  • “The interplay between blockchain, smart contracts and the Internet of Things is a significant development towards revolutionising trade transactions that could deliver considerable benefits throughout the global supply chain.”

‘The Commonwealth Bank just used blockchain in a ‘world first’ global transaction’ on Yahoo7 Finance Australia. Blockchain, the technology behind digital currency bitcoin and now being used to simplify secure financial transactions, has been applied for the first time in a deal facilitated by an Australian bank to sell cotton to China. The Commonwealth Bank and Wells Fargo used blockchain in what they say is a world first global trade transaction between independent banks for a shipment of cotton from Texas to Qingdao in China. The trade involved an open account transaction, mirroring a traditional bank letter of credit, between the seller (Brighann Cotton of the US), the buyer (Brighann Cotton Marketing Australia), and their banks (Wells Fargo and Commonwealth Bank).
Continue reading “The Commonwealth Bank just used blockchain in a ‘world first’ global transaction”

Global Enters LOI With Maker of Popular Voting App

  • The Company focuses on acquiring technologies, patents and companies having the ability to leverage the blockchain crypto technology.
  • Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company.
  • The Company has been in negotiations with the Australian company for several weeks now; finalizing its formal agreement.
  • The U.S. Licenses will also give the Company’s subsidiary (Global Election Services (“GES”)) the ability to enhance its current service offering and aggressively expand its client base.
  • Should all go well, Global Arena Holding will be the benefactor of certain U.S. Licenses that will instantly establish additional revenue generating opportunities.

Read the full article, click here.


@MomoAndGapper: “Big news out! $GAHC announces LOI – #pennystocks #blockchain #investing”


From Yahoo Finance: Global Arena Holding, Inc. , announced today that the Company has entered into an Letter of Intent with an Australian voting App company, to secure certain U.S. Licenses for a popular voting App that removes …


Global Enters LOI With Maker of Popular Voting App