Trade Finance Advice

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Redesigning Trade and Trade Finance Using Blockchain To Boost Revenue

An Overview Of Blockchain technology

Since the 1980s, trade finance has gone digital. I have been observing this space very closely for several years now and have been amazed at the role of blockchain and DLT in this. Blockchain is well known for its startup potential, with technology giants adopting it; it’s also gaining ground on Wall Street. Companies that host blockchain technologies, like blockchain applications or cryptocurrency exchanges, are appearing on the stock market and are proving profitable..

Blockchain technology Growth To Continue:

It is exciting to see that the blockchain industry is growing quickly, despite its relatively young age. All computer network nodes share blockchain databases. They are best known for their ability to secure and decentralize Bitcoin transactions.

Blockchains, of course, need no introduction. They verify data, as we all know and build trust without the need for a third party. The industry includes fintech companies, cryptocurrency miners, and blockchain technology companies. Bitcoin and other cryptocurrencies are powered by blockchain database technology. This industry is now worth billions of dollars, and it continues to grow at a rapid pace.

Businesses that used Blockchain Technology to boost their revenue

Cryptocurrency broker Coinbase is one of the most successful blockchain companies in the world. It makes nearly $6 billion a year and has become very wealthy thanks to its mining equipment, investments, and exchange platforms. Other big players in the blockchain world have also become very rich, such as those that operate mining equipment, invest in blockchain technology, or run cryptocurrency exchanges.

Let me take you through a list of publicly listed businesses that use blockchain technology and find themselves listed on the New York Stock Exchange or the NASDAQ:

NVIDIA is one of the leading developers of computer hardware and technology solutions. Its CMP technology helps make cryptocurrency mining faster and more effective, especially when it comes to Bitcoin.

Coinbase, as I have already mentioned earlier, is a popular website where users can purchase, sell, and shop cryptocurrencies and tokens that can’t be used to buy or sell anything else. The platform also offers crypto wallets, Coinbase debit cards, and crypto rewards. Coinbase plans to go public in 2021, but it already dominates the cryptocurrency stock market.

Paypal, comes to my mind next. It is a popular money-transferring app that is used by people all over the world. The app allows users to buy, store, and trade Bitcoin Cash, Bitcoin, Litecoin and Ethereum. PayPal is a great app for anyone who wants to make money quickly and easily.

Also Read: Drip Capital – Powering Trade Finance for SMBs

Advanced Micro Devices (AMD)
AMD makes computer hardware and core tech for high-performance computing, data centers, and games. Using GPU and CPU hardware, their platforms for gaming and rendering that are based on blockchain are safe and work well for blockchain transactions.

IBM’s Hyperledger Fabric blockchain platform is open-source and provides blockchain services for businesses. IBM’s blockchain solutions solve digital asset management, supply chain , and credential security. 120,000+ organisations contribute to Hyperledger Fabric.

Microsoft Azure and ConsenSys’ Quorum Blockchain Service are helping companies across industries adopt blockchain technology. With fully-managed ledger services, companies like Bosch and Prescryptive Health can build and scale enterprise blockchain apps and smart contracts in the cloud. This allows them to focus on their core businesses and not worry about the underlying technology.

Intel’s Hyperledger Sawtooth network is designed for enterprise-level blockchain apps and smart contracts. It was created in collaboration with IBM, SAP, and the Linux Foundation, and its platform allows anyone to gather data securely and has a nearly unhackable ledger. Intel’s Blockscale ASIC can work up to 580 gigahashes per second on proof-of-work networks.

Triterras’ trade finance platform has seen impressive growth, having raised 17 billion in funds and completing billions of dollars in transactions. The company’s Kratos platform charges trade and financing fees, and no customer currently generates over 16% of revenue. I also fee that as the company scales, this is likely to change.

Capital Silvergate
Silvergate Capital owns Silvergate Bank. Silvergate Bank offers digital currency industry workers solutions for their financial infrastructure needs. TTM revenue is $170.9 million, and net income is $78.5 million. The market capitalization is $2.9 billion, and the trailing one-year total return is 168.5%. With its technology platform, the company helps many of the largest digital currency exchanges in the US and international investors.

The Block:
The Block owns the cryptocurrency payment platforms Cash App, Square, Spiral, Afterpay, and TBD. The company’s technologies aim to simplify mobile payments for users and small businesses. It also includes support for Crypto Banking.. The Block further hosts media and entertainment platforms like Tidal today and Weebly.

The Bottomline
As we all know and yet I will reiterate that the potential of blockchain technology in the financial sector is becoming more apparent each day. This technology has the ability to simplify complex processes and reduce risks. To give you an example, blockchain can be used to simplify proof of payment, stock transfers, and real-time stock price calculations. In addition, as alternative cryptocurrencies become more popular, dozens of blockchain-based trading platforms are emerging that offer new ways to trade. I’m sure you’ll agree with me that blockchain continues to remain a powerful tool for the financial sector, whether it is used for trading cryptocurrencies or for making smart contracts.

Trade finance advice provides a comprehensive insight into finance companies, regardless of whether they use Bitcoin or blockchain. Visit Trade Finance Advice website for more insights.

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