Enigio’s digital document solution, trace:original, will be featured in a webinar by the International Trade and Forfaiting Association (ITFA) on 19th January to update members on the role of hybrid blockchains and explore how they can be used in a cost-efficient and effective way in trade finance.
The value of blockchain has been hailed since half a decade and banks have engaged in various ways to make it work in payments and trade financing. Central banks and regulators are particularly active in this area too, and it looks that 2021 will bring enhanced regulations and increased bank testimonials around the globe.
How can blockchain be applied in an effective and cost-efficient way within trade finance? Which use cases benefit most from blockchain in the short term? Which new value propositions are emerging for trade banks and their clients? What makes hybrid blockchain relevant for regulated industries? How does this integrate with existing systems and channels?
Göran Almgren, CEO of Enigio, states:
Hybrid blockchains are particularly attractive to digitise established instruments such as bills of exchange and promissory notes. We welcome ITFA’s regulatory advocacy through the TERA task force and industry facilitation through the release of the dDOC specifications.
In the webinar, three scenarios will be discussed in detail. One is the impact of hybrid blockchains on digital bills of exchange and promissory notes. The next scenario will weigh in on the impact of blockchain on digital bills of lading while the third will look at tokenisation of trade finance assets.
Enigio’s trace:original will be a reference of how banks can leverage the blockchain technology to digitise and grow at the same time without giving up or sharing business or personal data on a blockchain.
Interested members and participants can register for the webinar by sending an email to firstname.lastname@example.org.