The US Secretary of Commerce has appointed a representative from leading enterprise blockchain software firm R3 to the Trade Finance Advisory Council (TFAC).
Secretary Wilbur Ross has named Alisa DiCaprio, head of trade and supply chain at R3, as a member of the TFAC. DiCaprio joins 20 other newly appointed leaders in commercial banking, finance and trade, including reps from Standard Chartered, Mastercard, First American Bank and City National Bank.
R3 has developed over 300 members and partners across multiple industries to develop on Corda, its open-source blockchain platform, and Corda Enterprise, a commercial version for enterprise usage, to build a commerce network that records, manages and executes institutions’ financial agreements in synchrony with other members.
R3 has been appointed to the US Trade Finance Advisory Council! We are delighted to bring the perspective of FinTechs and #blockchain to the US government. Check out the press release here – https://t.co/ENbvNCMbsQ @AlisaDiCap pic.twitter.com/4cdF5dkgZo
— R3 (@inside_r3) March 13, 2019
R3’s Corda Settler, which supports XRP, has been testing the use of the digital asset in a blockchain pilot, which involves 50 banks, in order to increase liquidity, improve settlement speeds, reduce costs, and “digitalize” legacy systems that move money for cross-border transactions. R3 has also partnered with the leading incumbent, global financial messaging system Swift, to explore blockchain integration.
TFAC members will serve as principal advisors to the Secretary of Commerce, making policy and technical recommendations to improve financing options for US exporters.