Your Monday morning coffee briefing from TFG. Concern continued to grow over new variants of COVID-19. The UK has closed all travel corridors as of this morning. The UK economy shrank by 2.6% in November as lockdowns hit activity in the service sectors.
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).
