Trade and finance are one of the most critical sectors of the world. It has faced a lot of digital revolution over the past few years, but things are changing drastically now. One primary reason these industries are changing quickly is that blockchain technology and other distributed ledger technologies are in use, and you can also try to visit https://profit-builder.org/. Then they are using this kind of technology; they ensure that everyone gets highly advanced technology into use.
In 2020, a study conducted by the WTO showed that a few companies are adopting blockchain technology to improve financial services for everyone. So, this is something we are going to discuss today. We will be reading down the names of companies using blockchain technology to make finance even better for the people. Moreover, these companies ensure good quality service delivery to the people for a better financial ecosystem.
The first company we will discuss is the control, which was rebranded from an old company. The company is believed to deliver an open industry platform where you can create, exchange and approve different kinds of credit letters. It is one of the most well-known financial companies worldwide, and now, it has also adopted the technology of Blockchain. In the third quarter of 2020, the company decided to participate in the global finance network and, therefore, made sure that it was using Blockchain technology for the common good of the people. As a result, it can provide finance-related services on a large scale, which is one of the most incredible things.
It is a company that provides cloud-based financial services to the people, and nowadays, it is very well inclined towards involving Blockchain technology in its function. It deals in providing end-to-end solutions for multiple supply chains and financial trading. Moreover, the core work of this company is to provide applications that can help in transaction management. Also, its services are very well used in different mobile and computer software. Now, it has also developed its own distributed ledger payment commitment, which will meet the global supply chain and send it to the possible level.
Financial trading can sometimes become a very crucial task for many companies. Therefore, E-Trade connect is a Hong Kong-based company providing financial services on a large scale. The blockchain technology it is using is of consortium time, and therefore, the company is a limited company by the owners. It is a decentralized ledger technology-based platform that allows anyone to get products and processes which can be used for invoice creation. Moreover, it also deals in pre-shipment rate Finance and post-shipment trade finance. You can use it to create a trading account and duplicate the financial transactions you made earlier.
Infosys – India trade connect
Indian trade connect is a company developed out of the Infosys pinnacle. It is one of the most popular financial service companies worldwide, but now, it has its headquarters in India. It deals with letters of credit, bank guarantees, business-to-business transactions, bill sales, and invoice financing. It uses permission and a platform that Infosys technology developers develop. Financial trading is the core business of this company, and therefore, it is very well known in this business line.
It is an entirely decentralized commodity trade finance network that uses blockchain infrastructure. Multiple small companies are connected to this company, but it deals in digital trade finance. It has functions similar to the Indian trade collection, like a letter of credit, standby letters, and credit receivables. In addition, it also provides a KYC solution. Primarily, it aims at standardizing the facilitating process for maintaining the privacy of financial companies. Therefore, it has its distinct features making it one of the leading global companies in the finance sector.
Marco Polo network is another tech giant that entered the financial sector a few years ago. Now, it has more than 30 banks with global networks and provides financial solutions based on distributed trade finance platforms. Nowadays, the company deals in the receivables of finance and payment commitments. Any small company can aim to include digital infrastructure into their payment system with this company. Apart from this, it is a company that creates based on a license and transactional fees model. It also launched its own supply chain finance product back in 2020.