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How blockchain will eliminate the Bill of Lading in trade finance

Improving international trade

International trade is all about who owns the goods and how are they paid for. Since the transfer of goods never aligns precisely with payment, this is a complex industry that is largely driven by paper. The main reason for this is that ownership of goods is still transferred by a Bill of Lading or similar paper document, causing delays and costs for all parties involved. Blockchain technology can help to register and transfer ownership of goods, making it easier for all parties to agree on obligations and ownership. The effect of blockchain technology on trade finance can be described as “transformational”. In this video we explain the rationale behind this concept and our ideas on how to improve trade finance processes.

Blockchain Starter