The difference couldn’t be more stark: On a blockchain platform, a trade-finance transaction that would otherwise take five days to process can be carried out in a single day. That advantage has many close observers optimistic that more parties to trade transactions will embrace blockchain, and it has a host of consortia vying for the position of market leader.
While many subsectors of finance have been noodling around blockchain possibilities, trade finance has aggressively embraced this technology for the host of benefits it delivers in this area.
Author: Gilly Wright. Read more here at the Global Finance website.