Pandemic Accelerates Drive for Blockchain in Trade Finance

In its most basic form, trade is a complicated transaction — a buyer in one country, a seller in another, middlemen and agents to navigate a maze of shipping lines, customs officials, air freight and ground transportation. Banks on both sides often provide funding to complete the deal.

In normal times, global trade happens despite notoriously messy exchanges of legal paperwork. Add loads of restrictions during a worldwide pandemic and the wheels of international commerce have the potential to slow down.