[2018-04-27]Spanish Bank BBVA Issued the World’s First Digital Loan via Blockcha

[Vladdirescu87]

Spanish Bank BBVA Issued the World’s First Digital Loan via Blockchain

Banco Bilbao Vizcaya Argentaria (BBVA), one of the largest financial market institutions in Spain, has become the very first bank to issue a corporate loan with the help of blockchain technology, according to a report published on April 25 by Financial Times.

Carlos Torres Vila, CEO of BBVA, commented:

“Blockchain can offer clear advantages for all sides in the corporate loan market in terms of efficiency, transparency, security. It’s another strong example of how disruptive technology can be used to add value to financial services, something that is central to our strategy.”

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bbva-issued-digital-loan-via-blockchain/

[eaLiTy]

It is not clear on what they actually did, it says that they created a private digital ledger with the help of ethereum blockchain, if it is a private ledger how do you evaluate it, i am not sure how this works as we need to have more clarity on how they are planning to execute the loan rather than adding private ledger and ethereum blockchain in the statement which is fancy by the way.