How blockchain is helping forge global trade ties – TechHQ
Blockchain technology has the potential to break the various silos that exist between parties involved in cross-border transactions The technology can help ease access to trade finance for SMEs in particular, reduce costs, and make it easier for them to participate in international trade In 2018, when the World Trade Organization (WTO) laid out blockchain’s impact on international trade, it was widely accepted that the technology could be downright revolutionary-both on the financial side of the transaction and in terms of product traceability across the global supply chain.
