Using Blockchain Technology Companies for Trade Finance

1. Adam Smith Associates Pvt. Ltd. www.adamsmith.tv A Global Trade Finance Company https://adamsmithassociates.blogspot.com/ https://adamsmithassociates.tumblr.com/

2. Using Blockchain Technology Companies for Trade Finance Adam Smith Associates Blog | September 5, 2017

3. Using Blockchain Technology Companies for Trade Finance Adam Smith Associates Blog | Seeptember 5, 2017

4. 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.

5. 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.

6. 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.

7. 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. 

8. 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.

9. Using Blockchain Technology Companies for Trade Finance Adam Smith Associates Blog | September 5, 2017

10. 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. 

11. 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. 

12. 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. 

13. 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. 

14. 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! 

15. 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. https://adamsmithassociates.blogspot.com/ https://adamsmithassociates.tumblr.com/