Supply Chain Blockchain Financing Skuchain The advent of the paperless era

Baozou Commentary : The combination of blockchain and supply chain will create unexpected sparks. Compared with the traditional import and export trade that requires a large amount of paper documents, complicated and cumbersome transaction processes, and long-standing problems such as third-party intermediaries, blockchain will eliminate the need for paper documents and convert them into a safe and digital solution that can improve transaction efficiency and reduce costs. Blockchain will be the top priority in changing future global trade.

Author: Amber Dingding

Import and export trade has always been a very important part of all countries. As a major import and export trader, China has also made important arrangements for it. However, traditional import and export trade requires a large number of paper documents, complicated and cumbersome transaction processes, and third-party intermediaries, which are all problems that exist in import and export trade. As an important part of the supply chain, lack of credit, long distances, and slow feedback also lead to increased transaction costs, while complexity and time costs also increase accordingly. What kind of sparks will the combination of blockchain and supply chain create? It is still worth paying attention to.

The application of blockchain in supply chain and supply chain finance has a wide range of applications, especially when combined with the concept of Internet of Things (IoT). At present, there are many startups related to blockchain in the supply chain that have communicated with each other.

Skuchain, an American blockchain startup, mainly develops B2B and supply chain financing blockchain applications. What is Skuchain's supply chain blockchain like? What kind of problems can it solve? What kind of innovation and reform will the supply chain blockchain have in the future? All these are waiting to be revealed.

Skuchain is a supply chain blockchain startup in the United States. It mainly develops blockchain supply chain solutions to solve the problem that the $18 trillion global trade finance market still relies on paper documents. The global trade finance market is still dominated by letters of credit and guarantee agents, so a large number of paper documents, such as loss or loss, will be a difficult problem. At present, blockchain has eliminated the need for paper documents and provided a highly secure digital solution to speed up transaction time and reduce costs.

According to information, Skuchain is developing cooperation projects with many international banks and has received investment support from Digital Currency Group (DCG), Distributed Capital, and AminoCapital. In the supply chain "business cloud" created by Skuchain, trading partners can interact frictionlessly and obtain a highly visible supply chain. Skuchain's positioning of its blockchain products will change the trade finance industry.

Collaborative commerce will be the future trend of global trade development. Blockchain technology combined with supply chain will help trading partners work together more effectively. Distributed Capital, a subsidiary of Wanxiang Group, saw the blue ocean of supply chain blockchain and invested in Skuchain. So far, it has participated in the investment of more than 20 blockchain companies from all over the world.