Digitizing cross-border trade and supply chains
Challenge
- The inefficiencies of paper-based processes along the multiple phases of trade transactions impact cost, complexity, and turnaround times
- Resulting in reduced margins for traditional bank LC business and tough competition for client business from other working capital solutions
Solution
- DLT Ledgers is a “plug-and-play” solution for digitizing cross-border trade and supply chains
- The solution combines the benefits of blockchain, AI and cloud computing in a single platform, reducing transaction cycle times, freeing up working capital and automating expensive, manual processes
- Why Corda? Chosen for its transaction level privacy, scalability and R3’s 24/7 support
Results
- 4000+ businesses participating, financing or supporting cross border trades
- $3bn transactions to date have been executed on the platform
- Re-platformed from Hyperledger Fabric due to problems with privacy and scalability
