Logwin incorporated into Marco Polo blockchain network

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Logwin was incorporated into the blockchain digital process chain of LBBW and Commerzbank, which have once again executed a trade transaction between Voith and KSB SE, via the Marco Polo trade finance network. This represents a milestone in the expansion of the digital trade finance ecosystem.

An important objective of the Marco Polo network is to obtain all trade data necessary for a transaction as directly as possible, from the original data source. This also includes external third parties such as logistic providers. The data transfer for this transaction was executed simultaneously to the settlement of the real trade transaction, via R3’s distributed ledger technology (DLT) platform, Corda.

Managing Director Lars-Erik Poths and Key Account Manager Konstantin Wunsch at Logwin Air + Ocean Deutschland said: “For Logwin, participation in the real-time transaction with parallel data transfer has shown just how much potential there is in the DLT technology – how it helps to significantly simplify and accelerate the processes – on the part of the logistics partners as well as their customers.”

Source: Logwin