In most countries, small and medium enterprises are important contributors to economic welfare. This is the main reason why a digitalized trade system can open more opportunities to further SME growth.
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).
SMEs need to re-think their innovation strategy including digitalisation as the pandemic has accelerated the shift to digital technology in trade.
If regulators and established FIs are to place their faith – and their capital – in Blockchain, it must have a financial crime control framework to match efficiency of the solutions blockchain offers.
With the departure of we.trade’s cofounder Roberto Mancone – TFG investigates the significant challenges on the road ahead for the blockchain platform.
UniCredit has recently announced the successful completion of its first Italian transaction via blockchain-based trading platform we.trade.
In this edition of Trade Finance Talks, we speak with Roberto Mancone at we.trade, and Daniele Gnagnarella. Here, we discuss how they are changing the face of trade and receivables finance, and the Consortia 2019 event in May
Euro Exim’s Compliance and Operations Head Graham Bright spoke to TFG on their decision to join other global Ripple participants for the first project, namely using the xCurrent service where… read more →