Blockchain technology can enhance the basic services that are essential in trade finance. At its core, blockchain relies on a decentralised, digitalised and distributed ledger model. By its nature, this is more robust and secure than the proprietary, centralised models which are currently used in the trade ecosystem.

Blockchain Development Technologies

• Blockchain and Bitcoin are not the same
• Data stored on blockchain is public
• On the blockchain, private information is visible to everybody
• There is only one blockchain
• Smart Contracts are legal documents
• Blockchain – a buzzword, nothing more