3/18/19

IBM Blockchain for Trade Finance

Massive volumes of antiquated processes clog today’s trade and trade finance systems. This exposes institutions involved in trade to operational risk and high costs – and prevents many enterprises from accessing the credit they need to grow.

A better trade experience is here for buyers and sellers of all sizes. With everything from matching engines of bank-verified participants to automatic, event-based payments, IBM Blockchain for Trade Finance solutions make it easier for enterprises everywhere to find, trust and transact with each other.

The IBM Blockchain Platform makes it all possible. Its distributed ledger technology, smart contracts, security, built-in governance and control capabilities give institutions real-time access to trade finance data and information. This helps to mitigate risk, eliminate wait times, and increase transparency well beyond other digitization initiatives.

Removing longstanding friction can lead to new levels of trust and transparency – not just in trade finance, but across any trade network facilitating the movement of goods, documents and funds.

Networks built with IBM Blockchain for Trade Finance are designed to expand beyond regional or geographic boundaries, interconnecting with other trade finance networks to establish trusted trading corridors – and eventually – true trading hubs.

Soon, these networks will interconnect with blockchain-based industry networks that manage food safety and provenance data, documentary supply chain activities and others.

(excerpt from IBM promotional text on https://www.ibm.com/blockchain/solutions/trade-finance)


Picture by courtesy of FinMag https://finmag.ir/

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