Today we have seen financial services organizations conduct trade finance and other pilots using blockchain. One of the limiting factor is conneting the transaction blockchain with some means of payment, typically addressed on another blockchain or traditional payment framework. Success in this revolution will require all components of a transcation, including document exchange, approval, contract term adjudication and payment to come together under one umbrella. This has to include connection to the non-crypto currency markets.
- Related keywords
- trade finance
- distributed ledger technology
- Social challenges to be addressed through collaboration
- Solving this challenge will support the streamlinging of billions of dollars of transactions and simplify both international and domestice trade.