Today, companies large and small are investing resources into using blockchain and distributed ledger technologies, in what some may later view as the golden age of blockchain development. Interestingly, many of these investments are made with the aim of moving B2B operations for companies, from auto manufacturers to financial firms, into the fast lane.
The November edition of the PYMNTS.com B2B API Tracker™, a FI.SPAN collaboration, looks at the latest developments in blockchain and distributed ledger technology, along with other news and headlines from around the B2B API space.
Around the B2B API World
Can the blockchain make international currency transfers a bit easier? That’s the goal of a new proof of concept produced by processing solutions provider CGI Group, in collaboration with the Bank of Montreal, the Royal Bank of Canada and Mitsubishi UFJ Financial Group. The eventual public debut could be a milestone, as it would mark the first successful integration of a blockchain-based service with a trade finance platform.
Similarly, Mastercard wants to get more players involved in blockchain endeavors. The company recently announced that its blockchain API would be available to roughly 22,000 partner financial institutions and merchants for cross-border B2B payments.
For the latest notable B2B API trends and headlines, checkout the November tracker’s News and Trends section.
Building a Faster, Safer Network on the Blockchain
And, of course, Mastercard isn’t alone in trying to use blockchain to build bonds between businesses.
Companies involved in everything from financial services to auto manufacturing are using the tech to make B2B payments safer, speedier and simpler.
In a recent interview with PYMNTS, Brian Behlendorf, executive director of Hyperledger, explained why he believes technologies like blockchain and distributed ledger can make B2B operations run more smoothly for businesses of all kinds.
“These can obviously be used prominently in the financial services space,” he said. “But they also can be used in the healthcare industry, and often in supply chain settings as well, so there’s lots of interesting stories and use cases there.”
To read the story, download the latest Tracker.
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About the Tracker
The PYMNTS.com B2B API Tracker™, a FI.SPAN collaboration, serves as a monthly framework for the space, providing coverage of the most recent news and trends, along with a provider directory highlighting the key players contributing across the segments that comprise the B2B API ecosystem.