Treasury & Capital Markets
Blockchain in trade finance making strides
Despite its growing recognition and usage in the finance sector, the technology still needs to simplify its ecosystem to accommodate a wider range of users
Darryl Yu
2 Aug 2019
The People’s Bank of China ( PBOC ) recently announced that it had hit a milestone processing around US$4.5 billion worth of transactions on its blockchain-powered trade finance platform, launched just last year. While impressive in its scale and take-up rate, the PBOC’s scheme represents just the latest effort to digitalize the traditionally paper-based trade finance process.
