• White Papers
• 27.07.2016 10:43 am
• Cloud Computing and Blockchain Technologies: Their Future Use to Support International Trade and Supply Chain Finance

Banks are beginning to adopt some digitisation in their traditional trade offerings but the dilemma for banks today is how to replicate the low risk attributes and intermediation given by traditional trade, in an environment where customers want the simplicity and low cost efficiency of open account with the choice of taking finance on a transactional or portfolio basis. A combination of Cloud and Blockchain will potentially transform the current paper-based trade finance approach for the processing and management of trade transactions into a more inclusive digital and efficient platform.  All parties connected to the transaction will have easier access and greater visibility, timescales will be reduced and the financing bank will retain the transaction control, coupled with a security interest in and, where appropriate, actual control of the underlying physical goods.