Having a fast transaction is what all of us need. Besides that, blockchain technology is adopted in supply-chain finance, disrupting the financial sector and reducing bank and trade financing costs. Generally, improving transaction efficiency permits the movement of the financing channels to operate smoothly. Blockchain technology will be an excellent use for trade finance transactions in banks. Documents like LCs, Shipping bills, Bills of lading, and Tax invoices will be stored in a single location where all the parties can access them. All we have to do is to choose the proper application and be open to change.
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