/biz/ - Business & Finance

>>17957476
>This is the gpi Link I’m going to talk about by the way, which is the settlement layer for smart contracts. Just to qualify you do have to be on gpi and live, but what we did is we announced with r3 a partnership for this PoC, and they’ve been great partners. And we’ve been looking at I think two of their platforms for Trade Finance called Voltron and Marco Polo. Working about how to provide a settlement layer around Smart Contracts on a distributed ledger platform.

>We are looking at other platforms too. We know Hyperledger and Consensys have a lot of Ethereum based products. Digital Asset is also out there. We realized in the verticals it’s beyond Trade Finance into maybe commodity Trade Finance, Insurance, and the Securities and Derivatives world.

>But the basic idea is basically I’d like to tell a story about mangos. I can imagine a world where I am a buyer of mangos. I enter into a smart contract with a seller and there’s certain conditions with that contract. Right? The crate of mangos has to weigh a certain amount. Maybe it’s on a boat from the Caribbean and I don’t want those mangos going above 95 degrees during the entire voyage. I want it to arrive at a certain time, I want the pallet to be certain dimensions when it arrives. And guess what with the IoTs and Sensors you can guarantee all these things right? So it would be great if all these things were guaranteed via these “oracles” or third party sensors. When the mangos hit the port knowing that all these conditions were met, it would be cool if you could pay for the mangos and the mangos could be delivered in an automated way according to the conditions of the smart contract.

What was a baseline?