Revolutionizing Trade Finance with Blockchain Technology

This MPG article elaborates on the ways in which trade finance can be reshaped by blockchain. Cross-border trade transactions have been underpinned by trade finance instruments for centuries and have been characterized by very slow-paced change. This article shows that trade finance transaction procedures can be improved upon by blockchain in a number of ways, and blockchain technology has the potential to mitigate some risks that financial intermediaries face on a daily basis or, in the best-case scenario, eliminate them completely.