Though environmental concerns from retailers and consumers continue to mount, almost 75% of seafood sold today is not certified or rated as “sustainable”. While sea-to-plate traceability would go a long way to bridge this gap, it is not yet widely implemented. Is this because traceability is not feasible?
In an interview with The Economist World Ocean Initiative, Matthew McLuckie, Director of Investor Relations, Planet Tracker, explains that this argument does not hold.
According to McLuckie, the maturation of technology, including radio-frequency identification, remote electronic monitoring, blockchain and artificial intelligence, makes it easier for buyers to trace seafood products. Meanwhile, controversies related to high antibiotic use and illegal, unreported and unregulated fishing increase their desire to do so.
If retailers start making demands on suppliers to prove traceability and provenance of seafood products, then blockchain could play a role, he explains.
The full article is available here.
The Covid-19 pandemic is presenting global trade with exceptional challenges. With disruption to many supply chains due to large-scale logistics obstacles, and many sectors seeing significant decreases in demand, exporters must traverse an uncertain, unfamiliar landscape.
Prior to the pandemic, significant efforts were already being made by many banks to enhance trade finance through technological innovation. But events of the past few months have spurred a flurry of activity from blockchain to optical character recognition (OCR). Participants have been required to move away from ingrained, paper-based procedures and adopt digital solutions in order to ensure their businesses can continue to operate effectively.
In an article for GTR, Joon Kim, Global Head of Trade Finance Product and Portfolio Management, BNY Mellon Treasury Services, explains how banks are addressing these short-term challenges, and looking to a digital future.
To read the full article, please click here.
Natixis has joined a new venture, komgo SA, a blockchain platform set to digitalise the trade and commodities finance sector. The venture, founded by Natixis and 14 of the world’s other largest institutions, aims to build an innovative, open and efficient network within commodity trading, optimising the flow of physical commodity operations.
The platform will be developed in partnership with ConsenSys, the largest formation of technologists and entrepreneurs building applications, infrastructure, and solutions on the Ethereum network.
The news was covered by the Financial Times, Bloomberg, Reuters, TXF, Fintech Futures, Coin Telegraph, Block Tribune, Ledger Insights, Coin Rivet, Finextra, Coindesk, Bitcoin Magazine, Crypto Vest, ETH News
In an article for The Banker, Mark Evans – member of the International Chamber of Commerce (ICC) Banking Commission Executive Committee and Managing Director, transaction banking, at ANZ – comments on the benefits of blockchain in trade finance.
Evans says that Distributed Ledger Technology (DLT) “enables every participant in the chain to be able to see all transactions or touch points in one ‘block’ of information. This provides a high level of visibility and transparency to the progress of the transaction.”
To read the article in full, please click here.
The first such transaction involving a large German company, Commerzbank’s €500,000 deal was covered by Reuters, Banking Technology, The Trade, IBS Intelligence, coindesk, 4-traders, Blockchain News, The Blockchain, CoinShot, Blockshapers, The Paypers, Cypto Currency News, RTT News, coinzdaily, Econotimes Blockchain Revolution, Cryptocy News, Bitnews Today, Coin Telegraph, cryptovest, Finextra and Profit & Loss.
Writing for The Paypers’ 2018 edition of its “B2B Fintech: Payments, Supply Chain Finance and E-Invoicing Market Guide”, BNY Mellon’s Karen Braithwaite, Head of Global Product Management, Treasury Services and Carl Slabicki, Director, Immediate Payments, Treasury Services, discuss the momentum behind the adoption of real-time payments (RTP) across the world.
Sparked by client demand for a payment service that meets modern expectations for speed, together with technological advancements and the influx of fintechs entering the marketplace, countries across the globe are transforming their domestic transaction capabilities by implementing new real-time payment rails. What’s more, with the potential for such systems to be connected to other initiatives, such as SWIFT gpi, blockchain technology, ISO 20022 standardisation and mobile transactions, there is scope for added reach, efficiencies and value that could further revolutionise the payments sector.
To read The Paypers’ “B2B Fintech: Payments, Supply Chain Finance and E-Commerce Market Guide”, please click here. The article is featured on pp. 34-35.
Amid the hype surrounding blockchain technology, discussions of how it can bring value to corporates have often been vague and speculative. Yet as the technology matures and use cases become more concrete, a clearer picture is emerging of how it could shape the everyday work of corporate treasuries. Writing in Corporate Finance, UniCredit’s Deputy Global Head of Global Transaction Banking, Thomas Dusch, explains how German corporates can take advantage of this exciting new technology.
To read the full article please click here (article in German).
In an exclusive interview, Koll explains how the initiative stands to revolutionise commerce and offers an update on its progress.
The multi-bank initiative seeks to apply distributed ledger technology to trade finance. News of Marco Polo’s successful proof of concept was covered in Global Trade Review, Market Business News, Trade & Export Finance, Bobsguide, Banking Technology, Fintech Futures, Finextra, Blockchain News, Coindesk, CoinTelegraph, Toinnov, Enterprise Times, FSTech, Pyments, and Trade Finance Global.