Codezeros

According to the 2020 Global Trade Survey from the International Chamber of Commerce, trade and trade finance are in a state of global uncertainty, in part due to COVID-19. While many banks surveyed expressed concern over pandemic-related declines in trade flows and revenues, the survey also found that lockdowns and working from home are hastening the shift to digital solutions in trade, including blockchain . Fifty-four percent of banks surveyed say that transformative technologies like blockchain, digital trade, and online trade platforms are priority areas of development and strategic focus in the near term as they look to secure future growth. More than 50 percent also agreed that a growing number of document types used in trade could be paper or digital. Proven benefits of a blockchain-based solution for trade finance Pursue new revenue streams through new financing products and alternatives to letters of credit Offer banking services to small and medium enterprises (SMEs) a...