Using Blockchain Technology Companies for Trade Finance
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. 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. So, what are some of their findings of potential use? Here's the future of trade finance with blockchain technology companies. 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. ...