Trade Finance Global today releases a map of networks and consortia in the trade finance and shipping space. Highlighting the key technology providers, DLT involved, banks and participants on each network, the map provides insight into the complex ecosystem of blockchain players in trade finance.
Trade finance has been a very slowly moving space when it comes to embracing digital innovations. However, the coin is now flipping: new data sharing technologies and ambitious plans from major trade originators provide much hope for a new trade finance landscape to emerge in the foreseeable future. Will the new trade consortia succeed to scale, and by when?
At the core of every DLT based platform lies the underlying distributed ledger technology infrastructure. Each technological infrastructure offers its own unique set of features and core design decisions that fundamentally affect the use cases that it can be applied to. In the financial space, the primary focus is on a permissioned structure, where access is restricted to a set of verified players.
To date, attempts to digitize trade and trade finance and to connect trading parties have been relatively unsuccessful. Internal processes have become increasingly digital but transactions involving multiple parties are still costly, complex, and largely paper based. This lack of success to date has been due primarily to the limitations of legacy technology systems, platforms, and networks that supported such digitization efforts
With the departure of we.trade’s cofounder Roberto Mancone – TFG investigates the significant challenges on the road ahead for the blockchain platform.
In April of 2019, Surecomp launched Surelab – a new innovation lab created with the sole purpose of centralising the digitisation initiatives
We heard from Nitin Gaur, Director of IBM Digital Asset Labs at the ICC Banking Commission’s Annual Meeting, on the benefits of blockchain / DLT for enabling trust, transparency and security
As TFG prepare for IFN Asia, in Kuala Lumpar, TFG heard from Islamic Finance News Managing Editor, Vineeta Tan, who gave a brief overview of the Islamic Finance and Shariah market
TFG heard from Lionel Taylor and John Bugeja at Trade Advisory Network on the global outlook for trade, what’s changed, and how companies are shifting their supply chains to counter the macroeconomic and geopolitical challenges today
The launch of Bitcoin in 2009 brought the world the possibility of using blockchain networks, or at least some form of distributed decentralised ledger technology to advance the world of international trade.
