Using Blockchain Technology Companies for Trade Finance - PowerPoint PPT Presentation

Title: Using Blockchain Technology Companies for Trade Finance


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Adam Smith Associates Pvt. Ltd.

• A Global Trade Finance Company

www.adamsmith.tv
https//adamsmithassociates.blogspot.com/
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Using Blockchain Technology Companies for Trade
Finance
Adam Smith Associates Blog September 5, 2017
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Using Blockchain Technology Companies for Trade
Finance
Adam Smith Associates Blog Seeptember 5, 2017
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Using Blockchain Technology Companies for Trade
Finance
Adam Smith Associates Blog September 5, 2017
One of the most propitious industries for
blockchain technology Is trade finance. Many of
the world's largest banks are putting time into
its research and development.
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Using Blockchain Technology Companies for Trade
Finance
Adam Smith Associates Blog September 5, 2017
Thanks to a consortium of 71 global financial
leaders, R3CEV, much has been uncovered about
potential uses of blockchain technology.  Since
2016, R3 has executed several pilot runs in the
marketplace to complement their research. They
will continue to improve these strategies until
ready to fully enter the market.
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Using Blockchain Technology Companies for Trade
Finance
Adam Smith Associates Blog September 5, 2017
So, what are some of their findings of potential
use? Here's the future of trade finance with
blockchain technology companies.
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Using Blockchain Technology Companies for Trade
Finance
Adam Smith Associates Blog September 5, 2017
Monitor Real-Time Status and Condition One of
R3's members, CBA, is a leading contributor to
the research of blockchain technology.
Currently, they are undergoing 3 different
projects to analyze blockchain use. They are
conducting a trial run with exporters who ship
cotton. A humidity monitor is placed inside the
canister, which is linked to IoT and GPS. 
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Using Blockchain Technology Companies for Trade
Finance
Adam Smith Associates Blog September 5, 2017
Monitor Real-Time Status and Condition This
monitor allows consumers to track their shipments
with real-time status. Also, they are able to
evaluate the condition of their product as it
travels through.  Other national blockchain
technology companies are running pilots, similar
to this study. In Singapore, Hellosent is
conducting similar tests. However, they're
studying the import of French wine.
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Using Blockchain Technology Companies for Trade
Finance
Adam Smith Associates Blog September 5, 2017
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Using Blockchain Technology Companies for Trade
Finance
Adam Smith Associates Blog September 5, 2017
Eliminate Unpaid Settlements A growing issue for
grain farmers is a financial loss due to trade
insolvencies. An estimated 50 million was lost
in 2014 because of this activity.  It takes
roughly 4-6 weeks for a farmer to receive payment
for their shipments. At that, often times
conflict arises between farmers and buyers over
payment complications (failing to pay the
appropriate amount, late payment,
etc.).  Australian start-up, Full Profile, has
taken matters into their own hands. 
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Using Blockchain Technology Companies for Trade
Finance
Adam Smith Associates Blog September 5, 2017
Eliminate Unpaid Settlements Their blockchain
platform allows farmers to now receive automatic
payment upon delivery of grains. This will
significantly reduce the risk of dispute between
farmers and buyers. Once Full Profile's
application is fully functional in a domestic
setting, they will expand on external trade. 
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Using Blockchain Technology Companies for Trade
Finance
Adam Smith Associates Blog September 5, 2017
Digitize The use of blockchain technology can
also be beneficial to reducing financial loss
and risk. Upon further development, it will be
able to  digitize sales and legal
arrangements.  Trade finance is an
unwieldy industry, that relies heavily on
settlements and contracts. Currently, most of
these agreements are handled the old-fashioned
way paper copies. 
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Using Blockchain Technology Companies for Trade
Finance
Adam Smith Associates Blog September 5, 2017
Digitize Blockchain technology will remove the
need for this paper-based system. This
ultimately reduces the risk of financial loss as
documents are often lost, mishandled, or
tarnished.  Electronic documentation can be
tracked much more efficiently. Also, it cuts out
the need for a third-party verification system. 
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Using Blockchain Technology Companies for Trade
Finance
Adam Smith Associates Blog September 5, 2017
Interested in Learning More About Blockchain
Technology Companies? Blockchain technology
creates transparency in financial trade Between
buyers and sellers. From the moment an order is
made up until payment, blockchain is capable of
simplifying the trade process.  Are you based
out of India and looking to jump into the world
of international trade? You're at the right
place.  At Adam Smith Associates, we aid our
clients through all of their trade finance
needs. Contact us to learn how we can help you! 
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Disclaimer
Adam Smith Associates Blog
We empower our clients by providing values added
services that benefits them with the right
knowledge and boosts their business decision on
Domestic and International Trade. To provide
the best, we tie up with leading technical
analysts in India to offer latest Relevant
updates on currencies, commodities, domestic and
internal stock and commodity indices and special
reports on internal treasury, crude and many
other related subject to enable your decision
making. While the intention of this blog is to
offer this wholistic view to our website visitors
and clients, the information contained on blog
is for general information purposes only. dam
Smith Associates assumes no responsibility for
errors or omissions in the blog contents.
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