Marco Polo

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Revision as of 05:33, 7 October 2019 by wiki_crypto>Zeb.dyor
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Basics

  • Trade finance blockchain network founded by R3 and TradeIX.
  • A consortium working to bring efficiencies to international trade using blockchain technology.
  • Built on R3’s Corda blockchain platform
  • "In August 2019, Marco Polo said it had taken another step toward launching a live product. The 25-plus member group indicated at the time that a successful pilot had allowed a third party in a trade to trigger a payment to a supplier in real-time at the moment the goods are on their way to their destination. That milestone came after the network’s first live transactions in trials back in March."

Members

  • Mastercard; Joined (9-2019) the consortium, saying that its business-to-business global trade unit, Mastercard Track, will provide an access point to Marco Polo’s working capital finance platform.
  • Bank of America; "According to an announcement emailed (19-9-2019) to CoinDesk Thursday, the bank said that as a long-standing provider of trade and supply chain finance solutions, it is becoming a Marco Polo member firm in order to offer better services for clients." This is not surprising, since it was already a member of R3 itself.

Competition