Consortia, networks and technologies have emerged in attempts to digitize trade, yet to date, their applications have been relatively unsuccessful and disjointed. A white paper by Deepesh Patel, Editorial Director, Trade Finance Global (TFG), and Emmanuelle Ganne, Senior Analyst at the World Trade Organization (WTO) looks at how blockchain and related technologies create a flatter, smarter, more connected, and overall better world for global trade and commerce.
Finacle Trade Connect is the comprehensive blockchain-based solution from Finacle, developed specifically to simplify and digitize the trade finance business process requirements of banks using blockchain. Founded in 2017, the solution helps digitize trade finance business processes, including validation of ownership, certificate of documents and making payments, while working on a distributed, trusted, and shared network and was first piloted as the India Trade Connect project.
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