Blockchain heralds a new age for international trade

Trade, by its very nature, is a vast ecosystem involving a huge variety of players: buyers and sellers, the transport and logistics sectors, insurers, banks, inspection companies, etc. Although paper is still the most widely-used international medium for such exchanges, it carries a risk of fraud or loss and involves processing costs, deadlines and so on. On top of this, businesses and banks require genuine in-house expertise to ensure such documents are dealt with correctly.

Ongoing digitalization

Digitalization is the means of streamlining security and financing solutions for international trade and making them more cost-effective, but this means connecting up the aforementioned players, who have varying interests and do not necessarily trust each other.