Trade Finance
Blockchain in Trade Finance: Arguably the Hottest Banking Trend Right Now
In the journey to digitalizing trade, blockchain and distributed ledger technology (DLT) have emerged as powerful technologies promising to bring tremendous new opportunities for trade finance. At the 2018 Singapore Fintech Festival, experts discussed the many opportunities that blockchain brings
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Blockchain Needs a Super-Connector to Live up to Its $1.1 Trillion Trade Finance Promise
Blockchain has the potential to radically transform trade finance by erasing current bottlenecks and streamlining international trade transactions. The technology could potentially increase global trade volumes by US$1.1 trillion by 2026, from the current base of US$16 trillion, according to
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Samsung Joins Global Team Up to Create Yet Another Logistics Blockchain Project
There is still a lot of space in the logistics sector to use digitisation to achieve more transparency and, particularly, more efficiency. This is perhaps why the field of logistics has been of particular interest for companies across the globe, with
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Accenture and Digital Ventures Launches Blockchain Solution Built on R3
Accenture and Digital Ventures a fintech subsidiary of Siam Commercial Bank, have co-developed and launched a blockchain solution aimed at simplifying the way companies buy and sell goods, make and receive payments, and obtain financing. The solution is described as
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EximChain Aims to Bring the Global Supply Chain on the Blockchain
Eximchain, a blockchain solution for supply chains will be launching it’s mainnet this October. For the uninitiated that means it’ll be moved from testing environment to a production environment. Founded in the Massachusetts Institute of Technology (MIT) in 2015, Eximchain’s
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The Potential of Blockchain for Trade and Value Chains
Distributed ledger technologies (DLT) are set to play a critical role in reducing the worldwide trade finance gap, lowering barriers and improving processes, according to a new study by the World Economic Forum (WEF) and Bain & Company titled Trade
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Standard Chartered to Pilot Blockchain-Based Smart Guarantees in Trade Finance
Standard Chartered announced today a collaboration with Siemens Financial Services, the financing arm of Siemens, and TradeIX, a digital trade provider, to carry out an industry-first client pilot to create an end-to-end blockchain-based smart guarantees proposition in trade finance. With
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Commonwealth Bank Completes New Blockchain-Enabled Global Trade Experiment
Seventeen tonnes of almonds have successfully been shipped and tracked from Sunraysia in Victoria, Australia, to Hamburg in Germany in a blockchain-based collaboration between Commonwealth Bank and five Australian and international supply chain companies. Commonwealth Bank demonstrated a new blockchain
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Blockchain to Improve Trade Finance
Trade finance, where financial institutions provide credit facilities in order to guarantee exchange of goods, is a centuries old industry that is hampered by challenges such poor customer experience, increasing cost pressure and substantial regulatory burden. With its manual, cumbersome
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Wirecard Launches Supply Chain Payment Platform Based on Blockchain
Wirecard is expanding its B2B portfolio with services based on blockchain. The blockchain forms the basis for a highly efficient global network. For example, between producers and processors of raw materials such as coffee, crude oil or steel – markets
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