Porsche Uses Blockchain Platform to Close $170 Million Loan

One of the planet’s largest vehicle distributors has just finalised a $170 million loan using blockchain technology. Porsche completed the deal with the Spanish bank Banco Bilboa Vizcaya Argentaria’s (BBVA) blockchain platform.
The news makes Porsche the first non-Spanish company to use the distributed ledger platform to borrow funds from BBVA. It is thought that the use of blockchain technology in the negotiation and closing of loans will increase efficiency and transparency in the