International banking giant HSBC bank is seen close to testing Blockchain in live transactions, according to Global Trade Review reports. reported. The move was announced during a special press conference earlier this week.
HSBC bank will launch pilot programs
HSBC senior innovation manager Joshua Kroeker said the program has been running for two years and is testing blockchain usage. Kroeker, who successfully completed the process, said:
We are at the point of finishing the process for our customers to take part in live transactions in the coming weeks and months. Technology has come a long way; we are much more comfortable in terms of security and scalability.
Kroeker noted that many of HSBC’s customers are in the process of digitizing their operations, but many are having difficulties.
This product is a pilot
The bank is currently integrating customers into its pilot programs. Kroeker said that if they prove successful, the projects will be fully implemented into their live environment, but this step will require additional work on both the implementation of the Blockchain and the network.
The plan, according to GTR, is to launch a live Blockchain network in early 2019.
Coindesk