Blockchain can help the trade finance industry prevent billion-dollar scandals and ease trade financing, says expert.
The pressure induced by the ongoing economic crisis, obsolete trade finance systems and mounting geopolitical tensions is pushing the international trade finance industry down a rabbit hole.
To add to the already critical situation, recent trade finance scandals involving major players such as Hin Leong, ZenRock, Agritrade and Hontop Energy amounted to a loss of almost $6 billion that was mostly borne by banks.
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