Through the Contour Platform, HSBC came together with the Chinese automaker SAIC Motor and the automotive agency Taajeer Group in Saudi Arabia and held a meeting titled Blockchain.
Blockchain has started to attract great attention in the world due to the data privacy and transaction speed it provides. HSBC, which wants to provide convenience to people with this technology, cooperates with the Contour Platform. By taking advantage of the decentralization provided by Blockchain technology, Contour aims to digitize its worldwide financial resource worth $53 billion.
Blockchain Usage is Increasing
HSBC held a meeting titled Blockchain with SAIC Motor and Taajeer Group.
Referring to the possibilities provided by Blockchain technology, HSBC stated that the difficulties created by transactions made with traditional methods can be made easier with Blockchain. HSBC claimed that their transaction times lasted close to ten days, and with the use of Blockchain, their transaction time would decrease to less than 24 hours.
On the agenda of the meeting, it was stated that the intensive transaction requirement, especially in the banking sector, could be solved with the fast technology of Blockchain. Planning aims to structure and improve the financial sector.
Contour’s CEO, Carl Wegner, said in a statement that automotive sales to be launched in the Middle East with Blockchain transactions will be the first of its kind and will turn out to be a big step. HSBC, on the other hand, underlined the need to make human life easier by going digital.
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