Current Affairs - Business - Discussion

Discussion Forum : Business - Latest Current Affairs (Q.No. 1028)

2018-11-06 Business

1028.

Which company receives India's first LC payment via blockchain?

Infosys

Reliance Industries

HDFC

State Bank of India

Answer: Option

Explanation:

In a first for India, British bank HSBC Holdings Plc has executed a trade finance transaction using blockchain for a deal involving an export by Reliance Industries to an American client, Tricon Energy. Blockchain massively reduced the time taken for processing the documents.