DLT Might Reduce Trade Finance Gap by $1 Trillion, WEF Concludes
Cryptovest
Published Sep 14, 2018 06:34AM ET
Updated Sep 14, 2018 07:40AM ET
DLT Might Reduce Trade Finance Gap by $1 Trillion, WEF Concludes
Distributed Ledger Technologies (DLT), an umbrella term that includes blockchain, might be essential for reducing the global trade finance gap by $1 trillion and removing financing barriers for small and medium-sized enterprises (SMEs) and emerging markets, the World Economic Forum (WEF) concluded in a joint study with Bain & Company. The study, published on Thursday, discussed the impact of the so-called Fourth Industrial Revolution on trade flows and supply chains across the globe.
The document mentioned several innovative technologies including AI, Advanced Analytics, robotic process automation, and the Internet of Things. However, the focus was on DLT, which took a separate chapter. The Geneva-based non-profit organization said that blockchain would be efficient especially in emerging markets and for SMEs, and not just developed countries and large companies.
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