Blockchain For International Trade

ASB is close to offering a general blockchain-based service for international trading payments, starting with this <https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12152635>: ... the transaction was a landmark because the blockchain-based service meant digital payment and paperwork for the deal were wrapped up in an hour - compared to the two to four days it would take to process using more traditional means. Also: Trade is currently paperwork-heavy, Beehre says, making it susceptible to fraud or human error. Which is odd, because isn’t it precisely the point of all that paperwork to reduce the chance of fraud or human error? However: ... blockchain also appealed because of[sic] the technology was created to be unhackable. Every time I hear the word “unhackable”, I reach for my ... never mind.
participants (1)
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Lawrence D'Oliveiro