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Neutral blockchain infrastructure for global trade and supply chains, enabling trusted trade through @TWINGlobalOrg.
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A bill of lading is both a receipt and proof of ownership of the goods. Whoever holds the original can claim the cargo.
When a shipment is paid by letter of credit, the original typically goes from the shipping line to the exporter, to the exporter's bank, to the buyer's bank, to the buyer, and finally back to the shipping line at the destination port.
Every handoff is a chance for it to be delayed, lost or forged.
On a shared ledger, the record of who holds it looks the same to everyone.
When a shipment is paid by letter of credit, the original typically goes from the shipping line to the exporter, to the exporter's bank, to the buyer's bank, to the buyer, and finally back to the shipping line at the destination port.
Every handoff is a chance for it to be delayed, lost or forged.
On a shared ledger, the record of who holds it looks the same to everyone.
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Sunday read: trade finance comes with a lot of jargon, but most of it comes down to one question: who carries the risk between shipping and payment?
We broke the main options down in plain terms:
x.com/iota/status/21…
We broke the main options down in plain terms:
x.com/iota/status/21…
Who carries the risk between the moment goods ship and the moment they're paid for?View quoted post on X
Here's how it plays out: x.com/i/article/2117…
Who carries the risk between the moment goods ship and the moment they're paid for?
Here's how it plays out: x.com/i/article/2117…
Here's how it plays out: x.com/i/article/2117…
After the cargo arrives, a buyer can take up to 90 days to pay, per the US ITA.
Add the time to prepare and ship the goods, and an exporter can be out of pocket for months. Different kinds of trade finance can bridge that gap.
Every one of them depends on documents a funder can trust. On a public ledger like IOTA, a funder can check a document's record without going back to whoever issued it.
Add the time to prepare and ship the goods, and an exporter can be out of pocket for months. Different kinds of trade finance can bridge that gap.
Every one of them depends on documents a funder can trust. On a public ledger like IOTA, a funder can check a document's record without going back to whoever issued it.
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