In this article, Emmanuelle Ganne, senior analyst at the World Trade Organization (WTO), looks at how digitalisation can help SMEs access trade finance
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Trade finance has been undergoing a digital revolution for decades. But the advancement of new technologies such as blockchain and distributed ledger technologies (DLT) have accelerated this. A recent 2020 study by TFG and WTO shows 12 initiatives using DLT in trade finance (both open account and documentary trade).
A crucial step towards end-to-end trade digitalization is creating an ecosystem that allows for seamless exchanges of data between existing platforms. A recent study from the WTO and TFG highlights 19 initiatives and the recent developments which are working towards digital standards for trade.
With opportunities in mind and challenges addressed, we are free to look ahead to what the experts believe the future of the industry has in store. According to our survey… read more →
Networks of networks are initiatives looking to harmonize the goals and efforts other varied initiatives. These projects are an excellent step towards standardizing the industry and bringing all players onto… read more →
TFG spoke to Emmanuelle Ganne, Senior Analyst and Blockchain Lead at the World Trade Organization on the state of digitisation within trade and trade finance. With the rise of numerous DLT and non-DLT consortia, what role should multilateral bodies play, and how can we create paperless trade together? The interview was held at ExCred Commodities in London.