Last autumn IBM and a number of large banks - Bank of Montreal (BMO), CaixaBank, Commerzbank, Erste Group, United Bank of Switzerland (UBS) – started to work with mutual project. The Batavia principle of work is to operate with tracking events in a line of deliveries. At the same time the key events can activate the performance of smart-contracts closing commercial agreements.  
As it follows from the press-release, the first transaction concerned the delivery of cars from Germany to Spain, and textiles from Austria to Spain.

Niko Gizber, the representative of Commerzbank, one of the participants of this project, declared about evident high potential of the platform. He also added that Batavia was considering the possibility of partnership with other financial projects and institutes. 

https://bitnovosti.com/2018/04/20/ibm-i-krupnejshie-banki-proveli-pervuyu-uspeshnuyu-tranzaktsiyu-v-ramkah-novoj-blokchejn-sistemy/