Blockchain: Is it hype?  67

Blockchain footprint

There have been multiple POCs/MVPs in the trade finance sector. The sec-

tion below will go through some of the successful implementations.

• Contour: Contour is a global network to create a decentralised global

trade finance network enabling everyone to collaborate on a common

platform. It was formed collaboratively by leading banks, corporates

and trade partners.

⚬

⚬Website: https://contour.network

⚬

⚬Technology used: R3 Corda

• Skuchain: Skuchain provide multiple products including blockchain-

based applications and platforms. One of the products called EC3

(Enterprise Collaborative Commerce Cloud) is a blockchain-based

platform that provides an end-to-end solution for supply chains. EC3

links procurement and contract management, financing arrange-

ments, corporate payments, inventory tracking and much more to

provide a seamless and secure end-to-end supply chain solution.

⚬

⚬Website: https://www.skuchain.com/ec3/

⚬

⚬Technology used: Hyperledger fabric

• eTradeConnect: eTradeConnect is a trade finance consortium based

in Hong Kong, China, and operated by Hong Kong Trade Finance

Platform Company Limited (HKTFPCL).

⚬

⚬Website: https://www.etradeconnect.net/Portal

⚬

⚬Technology used: Hyperledger fabric

Importer

(Buyer)

Exporter

(Seller)

Importers Bank

(Buyer Bank)

Contract

Shipping &

Delivery of Goods

Exporters Bank

(Sellers Bank)

Payment Channel

Swift or other

Exporter

(Seller)

Payment

Payment

Receipt

Figure 3.1  Trade finance workflow.