As we enter into a new decade, TFG spoke to trade experts to give their bets and views for 2020 in terms of trade and supply chain finance. OCR or ML? AI or DLT? Buzzwords and hype or reality?
The Asian Development Bank (ADB) has released the results of the 2019 rendition of their annual Trade Finance Gaps, Growth, and Jobs Survey. ADB’s vast network of respondents includes 112 banks from 47 countries, 53 export credit agencies from 17 countries, 39 forfaiters from 20 countries, and 336 other firms from 68 different countries around the globe.
Global law practice Eversheds Sutherland appointed as legal counsel for blockchain trade platform eTradeConnect to help the consortia tackle legal challenges related to the use of blockchain in trade finance.
IBM has partnered with Chainyard to launch a new blockchain network geared towards improving supplier qualification, validation, onboarding, and information management.
Flexport’s unique visibility into client shipments down to the SKU level through its digital platform provides them with a unique perspective on risk relative to banks offering financing. This insight… read more →
Reports find that there are extensive ties between british billionaire Sanjeev Gupta’s acquired bank, Wyelands and his family’s wider business empire, the GFG Alliance. This strong link is raising questions over how the bank is appropriating savers’ deposits.
As the UK prepares to leave the EU, significant efforts have needed to be made to prepare the government to negotiate for their own Free Trade Agreements. Is the UK ready for such a challenge?
International Trade Secretary Liam Fox seeks to invest in the UK’s trading future by launching the International Trade Development Program.
Trade Finance Global, in collaboration with TradeIX have put together a whitepaper: Blockchain and DLT in the International Trade & Shipping Space.
The superimposition of DLT into the trade and shipping space naturally brings about a major step towards the digitization of trade. The process of trade digitization, however, is still traversing a legislative grey area. In many jurisdictions, including the USA, there are currently no regulations or laws that recognize electronic negotiable instruments in lieu of their written counterparts. Overcoming this immense operating hurdle will be a key initiative to reaching the full potential of DLT in the trade space.
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.