Research finds blockchain could generate an extra $1 trillion in trade finance
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The World Economic Forum, in partnership with Bain & Company, released a research report on supply chain and trade finance. The report indicates that the deployment of blockchain technology could reduce the trade finance gap and facilitate close to $1 trillion of new trade volumes, globally. Furthermore, the research claims that blockchain technology will eliminate the inefficiencies in trade and supply chains such as: human error, high data exchange fees, and slow document verification. (Source: The World Economic Forum)
AUTHOR
Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi
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