"Vietnamese Airline Pilots Carry Out Cryptocurrency Transactions Using Blockchain Technology"

Contour, the digital trade finance network, has made significant strides in revolutionising the international trade landscape. The network, which was formerly known as Voltron, has been making waves since its inception, and its latest achievements are a testament to its potential.

One of the most recent milestones was the completion of the network's first fully digital end-to-end secured Letter of Credit (LC) transaction. This groundbreaking achievement was a collaborative effort between Contour, DBS bank, CTBC Bank, HDBank, Tainan Spinning, and Century Synthetic Fiber Corporation.

CTBC Bank, the founder bank of Contour, acted as the advising bank in the LC transaction for Tainan Spinning. CTBC Bank has worked with Contour for the first time, introducing the network to the textile industry. On the other hand, HDBank, a Vietnamese-based bank, was the issuing bank for the importer, Century Synthetic Fiber Corporation.

The Contour network ensures that all parties in a trade transaction maintain transparency and security. This digital platform allows both banks, importers, and exporters to have visibility of the trade transaction without compromising security. The recent transaction marks the first time HDBank has utilised the Contour network, demonstrating the network's ability to cater to banks of varying sizes and industries.

Standard Chartered had earlier this year announced its investment into Contour as one of its founding members. The future of trade, according to Contour, will be without barriers, allowing collaboration across the entire trade ecosystem. Contour aims to further these goals in 2021, delivering an inclusive trade environment for all.

Carl Wegner, CEO at Contour, has stated that traditional methods of doing business will become incompatible in the post-COVID world due to the inefficiencies of paper-based processes in international trade. The digital revolution initiated by Contour is a step towards a more efficient, secure, and transparent global trade system.

It is worth noting that no single organization, including Contour, controls all the data on the network. This decentralised nature of the network ensures the security and privacy of all parties involved in the trade transactions.

The first bank in Vietnam to complete a full import LC (Letter of Credit) transaction flow from issuance to settlement using the Contour network is not explicitly mentioned in the provided search results. However, this achievement underscores Contour's potential to transform the international trade landscape, particularly in emerging markets.

In conclusion, Contour's digital trade finance network is leading the charge towards a more efficient, secure, and transparent global trade system. The recent successes in Vietnam demonstrate the network's versatility and ability to cater to banks of varying sizes and industries. As we move forward, it is clear that Contour is committed to delivering an inclusive trade environment for all, paving the way for a future without barriers in international trade.

"Vietnamese Airline Pilots Carry Out Cryptocurrency Transactions Using Blockchain Technology"