[Farhana Begum]

UCP 600 (The Uniform Customs & Practice for Documentary Credits has a set of rules from the ICC (International Chamber of Commerce) which applies to financial institutions and issues LCs. Lenders and banks are subject to these rules and aim to standardize international trade. They focus on reducing the risks involved in trading services and goods. UCP 600 has practices that voluntarily incorporate into contracts after being specifically outlined before application. This gives flexibility to international parties. ISBP, that accompanies UCP600 , through ICC Publication 745 helps understand if a document corresponds with the LC. Credits governed and issued by UCP 600 will be checked through all 39 articles of UCP 600. Thus, UCP 600 are the successful rules in response to LCs and trade.

[Farhana Begum]

Blockchain is becoming popular every day as many industries use it to complete various work elements. The five significant blockchain segments of technology are cybersecurity, insurance, banking, supply chain management and government. Besides these, the top three industries benefit more: advertising, stock trading and the automotive industry. Online advertising widely uses blockchain technology. Stock trading uses technology to source or undo any fraud. The automotive industry is seeing a lot of advantages with blockchain technology’s unique properties.

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