The World Trade Organization (WTO), Trade Finance Global (TFG), and the International Chamber of Commerce (ICC) have jointly published a whitepaper “Accelerating trade digitalization to support MSME financing”. To develop the whitepaper, Emmanuelle Ganne and Deepesh Patel surveyed more than 100 experts and interviewed around 34 among them to learn how technology can impact micro, small, and medium enterprise (MSME) trade financing and the challenges yet to solve.
As a contributor, Lars Hansén, the Head of Strategy at Enigio, played an important role in the publication. He provided insights on distributed ledger technology (DLT) and Ricardian contracts that Enigio's trace:original integrates to create digital original documents, same as physical papers.
The whitepaper discusses some use cases of DLT and Ricardian contracts that replace physical paper documents in trade finance yet having the same quality of the paper such as immutability, singularity, transparency, interoperability, proof of ownership, etc. It also sheds light on the UNCITRAL Model Law on Electronic Transferable Records (MLETR) that provides a workable framework for the legislation of digital negotiable instruments such as bills of exchange and bills of lading.
To learn more about the research, download the free 2021 publication.