$1 Trillion Boost In Trade Finance Via Blockchain: World Economic Forum

Source: Digital Money Times, originally published on .

http://digitalmoneytimes.com/1-trillion-boost-in-trade-finance-via-blockchain-world-economic-forum/.

$ 1 Trillion Boost In Trade Finance Via Blockchain: World Economic Forum

Blockchain can transform the supply chain.

By using blockchain, small- and medium-size businesses (SMEs) around the world can obtain $ 1 trillion in trade financing, according to Sept. 13 whitepaper by World Economic Forum and consulting firm Bain & Co. The technology can be especially important in providing capital and improving efficiency in emerging countries — which often lack banking infrastructure and digital processes.

The authors of “Trade Tech – A New Age for Trade and Supply Chain Finance” point to red tape and excessive documentation as stifling international trade, especially in regions like Asia and Africa.

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