In an interview at AFP 2018, speakers Francesco Tonin, FX Market Specialist for Bloomberg, and Todd Yoder, Director of Global Treasury for Fluor Corporation, discuss corporate use cases for blockchain and distributed ledger technology, including payments, trade finance and procurement and supply chain management.
Trade finance is particularly important because documents make up approximately 20 percent of the cost of shipping, Yoder noted. "Documents need to be processed for each shipment, and inspectors have to look up and sign papers that then are transmitted to offices of lawyers to release letters of credit," he said. "All of that could be made cheaper by blockchain technology. So that is a very exciting piece of the equation."
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