https://medium.com/media/4325e7c2267a3ef4a9303d332942adde/hrefA new report co-published by the World Economic Forum and global consulting firm Bain & Company, found that blockchain's distributed ledger technologies and other "fourth industrial revolution" technologies offer new efficiencies to small and medium-sized enterprises (SMEs) and emerging markets involved in global trade. These improvements in efficiencies could lead to a $1 trillion dollar improvement in the global trade finance gap.The paper looks in particular at the effect and costs of the administrative processes involved in cross border transactions. These administrative processes could be simplified using distributed ledger technologies. At the same time, these technologies can also help prevent illegal trading activity by providing a complete record of the origins of various goods.The Limits of Paper-Based DocumentationThe authors argue that "archaic" paper-based processes are a major obstacle to global trade. One example it mentions is a test shipment of flowers from Kenya to the Netherlands, which generated 200 separate communications documents.


I guess you came to this post by searching similar kind of issues in any of the search engine and hope that this resolved your problem. If you find this tips useful, just drop a line below and share the link to others and who knows they might find it useful too.

Stay tuned to my blog, twitter or facebook to read more articles, tutorials, news, tips & tricks on various technology fields. Also Subscribe to our Newsletter with your Email ID to keep you updated on latest posts. We will send newsletter to your registered email address. We will not share your email address to anybody as we respect privacy.

This article is related to


trade,finance,blockchain,cryptocurrency,world-economic-forum