Blockchain tech can resolve inefficiencies in current trade finance system
Sat Mar 17 , 2018 at 07:38:00 UTC
Implementing digital technologies such as blockchain, artificial intelligence (AI), machine learning and robotic process automation can resolve inefficiencies in our current trade finance system, and make the process efficient at the bank?s, buyer?s, seller?s, as well as the SME?s/MSME?s end, noted a recent ASSOCHAM-Deloitte joint study. ?Blockchain?s application for identity management and know your customer (KYC) looks quite promising,? stated the study titled, ?Role of trade finance for inclusive growth,? jointly conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and global professional services firm Deloitte.