Riding the blockchain wave in trade financeTrade finance, whether conducted on a domestic or international basis, can be a paper-intensive, costly and risk-laden proposition, involving not just companies importing and exporting goods and services but also their banks, insurers and others. The use of blockchain technology ...
Blockchain, or distributed ledger technology (DLT), provides a decentralized record of data which is shared and synchronized with all of its participating members. This rapidly emerging technology allows data to be agreed upon, stored and updated in near real time on a cryptographically secured distributed ledger. It also enables the data to be accessed transparently by numerous authorized participants.
The financial services industry has been at the forefront of launching blockchain proofs of concept (POCs), and CGI has successfully blended our domain expertise and blockchain knowledge for POCs for financial services and other private and public sector clients.
CGI’s consulting services provide the experience enterprises need to investigate the benefits of blockchain:
Innovate – aids clients in defining new business models, identifying use cases and prioritizing potential use cases where blockchain may provide the highest value
Experiment – designing and implementing proofs of concept, and defining anticipated value (implementation plans, architecture, KPIs, etc.)
Generalize – providing support for change, implementing pilot projects and charting the path to operationalization