Supply chain settlement refers to the finalization of financial transactions between parties involved in a supply chain, from raw material suppliers to end consumers. This process often involves complex payment terms, multiple currencies, and numerous intermediaries. Blockchain technology offers a method to streamline supply chain settlement by enabling near-instant, transparent, and immutable transfers of value. This can significantly reduce payment delays and operational costs.
Context
The discussion surrounding supply chain settlement in the digital economy frequently highlights the application of distributed ledger technology to enhance efficiency and transparency. A key development involves integrating digital currencies and smart contracts to automate payment triggers based on verifiable events. Future advancements will likely see wider adoption of blockchain-based solutions, optimizing global trade finance.
The cross-chain DLT trade finance pilot links two central bank networks for atomic settlement, drastically lowering counterparty risk and unlocking SME capital efficiency.
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