Benefits of utilizing Blockchain in Trade

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Blockchain can eliminate the need for trust in transactions, thanks to the fact that it facilitates the use of transparent and immutable smart contracts.

Blockchain offers potential for easing and speeding up transactions between trading partners. Advantages include:

– Improving supply chain visibility and transparency

– Reduction of transaction costs

– Tracking of products moving through the supply chain

– Facilitating the sharing of information across the Supply Chain

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