The trade finance ecosystem remains an opaque and fragmented industry heavily dominated by paper processing and multiple participants along the transaction lifecycle. The antiquated processes burden all of the companies involved—banks, importers and exporters, insurers, export credit agencies and various service providers. With rising costs and operational risk, the industry has been seeking solutions to simplify, better manage, and digitize trade, making it ripe for the benefits of blockchain technology.
This video will let you understand more on how blockchain can help leverage trade finance.
