The Power of Digitization in International Trade Finance

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Maria-Emilia Catut

 

International Business and Entrepreneurship, Romanian-American University, Romania

 

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Abstract

 

Digital market platforms are used to facilitate exchanges and transactions. The digital transformation with a very high potential to upgrade the economic and financial system is blockchain. Blockchain is transparent and trackable, it encodes all transactions, it randomizes the process and ensures that no one can force the blockchain to accept a particular entry onto the ledger that others disagree with. Besides these advantages, blockchain will have a major impact on international trade finance because it will also eliminate intermediaries, thus reducing transaction costs.

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Keywords

​- blockchain

- digitization

- international trade

- trade finance

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Published: July 2019

Issue: Vol. 1, No. 1 (2019)    Volume 1, Issue 1, 2019

Pages: 34 - 39

Section: Articles

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Please cite this article as:

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Catut, M-E. (2019).The Power of Digitization in International Trade Finance. Research Focus, 1(1), 34-39. doi: https://doi.org/10.36068/1.6

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