InsightsMarco Polo Network Is Leveraging Blockchain Technology To Revolutionize Trade Finance

07.12.2017| Media

Interview with Oliver Belin, CMO of Marco Polo Network (formerly known as TradeIX) Is Leveraging Blockchain Technology To Revolutionize Trade Finance speaking about the company providing insights into the Marco Polo Network (formerly known as TradeIX) Is Leveraging Blockchain Technology To Revolutionize Trade Finance platform. In the interview, the benefits of leveraging Distributed Ledger Technology (DLT) for Trade Finance are highlighted such as:

  • Better transparency and visibility
  • Less complexity with fewer intermediaries
  • Lower risk in terms of settlement, custodian and counter-party
  • Better management of credit risks

In addition, DLT creates decentralized records of transactions, thus it allows to a replace master database with large numbers of proprietary ones. This results in a simpler and more cost-effective ecosystem in trade finance. DLT also makes it much easier to establish unique, unforgeable identities that can be linked to verified credentials with the record of their ownership, and at the same time, protecting privacy. This allows to transfer financial or physical assets much faster and more effective, while increasing the confidence in their provenance.

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