Trade Finance and Programmable Money
To gain understanding of programmable money trends, particularly in relation to international trade finance to inform company marketing and positioning.
Future of Programmable Money
- 92% of money in the world is electronic rather than cash.
- Banks from across the globe, such as the Association of German Banks and China's CBDC, are using DLT blockchains to utilize programmable money in major transactions.
- Distributed ledger technology (DLT) is used to transfer physical assets to digital tokens, which can be used for a variety of goods and services across countries. This technology opens the door to connect a digital token system to the current Global Trade Item Number system.
- Using programmable money allows for the expansion of smart contracts in cross-border deals.
- Programmable money, such as tokens, could be used for nearly anything, from electricity to fact-checking, provided anti-fraud and general security programs are in place.
Future of Trade Finance
- Trade finance technology allows trade deals to incorporate details specific to the companies and products involved.
- Trade finance technology can assist in compliance checking while maintaining efficiency and keeping costs lower.
- Global Trade Finance Market 2019-2023 (TechNavio, $2500)
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