Banks Building global highway for digital trade
GOVERNMENTS led by those in Singapore and Hong Kong are helping drive widespread support for a global move towards digital trade. And that will help, because it is not technology that has been slowing progress, says Michael Lim, ANZ’s Head of Trade and Supply Chain. Agreements on the commercial issues of digital trade need to be forged across all participants in the supply chain process.
In future trade, Lim sees distributed ledger technology (DLT), a key component of Blockchain, helping reduce fraud and creating new efficiencies, with artificial intelligence playing an increasing role in the process . . .