The Blockchain Innovation Conference took place on 22 June at the KPMG headquarters in Amsterdam. The conference was supported by founding partners ING, KPMG, Rabobank, KPN, HPE, and IBM.
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Blockchain: the future?
What does the development of digital currencies and transactions herald for financial institutions like ING? And how can it change the manner in which we do business? ING investigates whether blockchain, the technology behind the bitcoin for example, can be used for the settlement of complex transactions. “No one can predict how big blockchain technology will be. But if it succeeds, it will be phenomenal,” says Mark Buitenhek, global head of ING Transaction Services.
More about Blockchain: the future?ING launches Zero-Knowledge Range Proof solution, a major addition to blockchain technology
On 16 November, ING announced the initial release of its Zero-Knowledge Range Proof solution - a specific ZKP that has been proven to be ten times more efficient than other ZKPs. This will help improve confidentiality in a public ledger at much lower operating costs.
Read moreR3 and TradeIX develop open account trade finance infrastructure
28-9-2017 - Enterprise software firm R3 and trade finance technology firm TradeIX announced an innovative initiative focused on the overhaul of open account trade finance infrastructure.
Read moreA trade match made in heaven
31-7-2017 - Trading in financial markets involves databases that can’t easily communicate with each other, often leading to errors in the matching process. Those days could well be over soon, with blockchain-based technology coming to the rescue.
Read moreEasy Trading Connect: digitalising an age-old sector
23-2-2017 - Commodity trade and finance is still based on the exchange of paper documents. But that’s about to change. Easy Trading Connect is proof that the sector can be digitalised with blockchain technology.
Read moreING joins forces on blockchain-based platform for energy commodities
6-11-2017 - ING is joining forces with banks, large energy companies and trading houses to create a blockchain-based digital platform that intends to modernise and transform energy commodities trading.
Read moreING participates in first agricultural commodity trade through blockchain
Louis Dreyfus Company (LDC), Shandong Bohi Industry Co., Ltd (Bohi), ING, Societe Generale and ABN Amro have successfully completed the first full agricultural commodity transaction using a blockchain platform.
Read moreEasy Trading Connect using blockchain explained
1 March 2018 - ING, Societe Generale, ABN Amro and other major industry players have a long-term ambition to improve security and operational efficiency in the commodity trading and finance sector through digitalisation and standardisation.
Read moreING goes a step further in blockchain data privacy
With the introduction of its zero-knowledge set membership (ZKSM) solution, ING’s blockchain team achieved another milestone in overcoming challenges related to privacy on distributed ledger technology.
Read moreING completes live commercial paper transaction within R3 consortium
Enterprise software firm R3, together with partners Commerzbank, ING, Natixis, Rabobank, and RCI, successfully completed a live commercial paper transaction on the Euro Debt Solution application, built on R3’s blockchain platform, Corda.
Read moreNew era for trade finance
Having seen many proofs of concept and pilots, the trade commodity finance industry is ready for action with the launch of komgo, a blockchain-based venture that will transform the sector.
Read moreING and HSBC a step closer to paper-free trade finance
ING and HSBC have run their second blockchain pilot using the Voltron platform to make trade finance transactions digital and more efficient.
Read moreAnother blockchain milestone in trade finance
ING has tested the application of blockchain technology in trade finance in partnership with consortium R3 and trade finance platform TradeIX. The initiative, called Marco Polo, allows trade participants to connect in real time and automate financing before and after shipment, making trade finance safer, simpler, and more flexible.
More about Another blockchain milestone in trade financeBlockchain to shake up mining and metals sector
ING teams up with IBM and MineHub on a new blockchain platform for mining and metals.
Read moreING releases new blockchain breakthrough: Bulletproofs
ING’s blockchain team has announced its newest cryptographic blockchain development: Bulletproofs. The code is an extension to previous releases that aimed to improve data privacy within distributed ledgers: zero-knowledge range proof (ZKRP) and zero-knowledge set membership (ZKSM).
Read moreVoltron trial sees major development of blockchain trade application
The Voltron initiative, built on R3’s Corda blockchain platform, has completed global trials which saw over 50 banks, including ING, and corporates participate in the simulation of multiple digital Letter of Credit transactions across 27 countries on six continents.
Read moreING part of blockchain-based Forcefield
ING joins blockchain-based platform Forcefield to make post-trade commodity transaction processing cheaper, safer, and more efficient.
Read moreUtility Settlement Coin continues to evolve
The Utility Settlement Coin (USC) is moving in to its next phase of maturity with the creation of Fnality International and completion of an associated 'Series A' equity round of £50m.
Read moreING joining blockchain-based trade-settlement platform
ING has joined forces with other global banks to create a digital coin that can be used to settle international money transfers instantly, cutting out intermediaries and lowering transaction costs.
Read moreING executes first commodity trade transaction on Komgo
ING has successfully executed its first commodity transaction on Komgo, the blockchain-based platform that transmits commodity transactions in a secure environment. The oil trade deal was executed by the Commodity Trade Finance branch in Geneva with a Letter of Credit issued on behalf of Mercuria Energy Trading S.A.
Read moreMineHub launches mining and metals technology platform
The technology platform set to shake up the mining and metals sector, MineHub, announced that its blockchain-based platform is now live and available to industry participants. MineHub, an ING partner since January 2019, makes the entire supply chain more secure, transparent and efficient.
Read moreING innovation solves privacy-security trade-offs in blockchain transactions
On 23 October, ING’s distributed ledger technology (DLT) team introduced its zero knowledge proof notary service, a blockchain breakthrough that improves the privacy and security of transactions on Corda, an open source blockchain platform. The service evaluates the validity of a transaction without revealing anything about it, except that it’s valid.
Read moreING-founded blockchain trade finance platform launches in Singapore
On 28 January, blockchain-based trade finance platform Contour, co-founded by ING Ventures, launched into the $18 trillion global trade finance market. Contour was co-created by ING and seven other banks in 2018 to simplify letters of credit, reducing the amount of time needed to process them from five to 10 days to under 24 hours.
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