Abstract

Blockchain has made a big difference in cryptocurrency, investing, and banking in the last few years. The field of banking and finance has also been shaped by its recent use in trade finance. Blockchain has overcome the costly, time-consuming, and error-prone shortcomings of traditional trade financing. Companies with a long history, particularly those in the shipping and trading sectors, have been able to use blockchain technology in their financial transactions and have seen significant results. Automated financial decision-making is also made possible by incorporating Blockchain, which can independently verify the legitimacy of transactions. However, much research has yet to be done on the technology used in trade finance. As a result, this paper aims to investigate the use of blockchain technologies in trade finance and how they affect financial decision-making, as well as their ramifications for the future. Took a case study approach, and a few major use cases of well-established organizations in the trading and investment and technology and IT consulting sectors were used as examples of how they implemented Blockchain. Academics, subject matter experts, and organizations in the above industries would benefit from the study because they could make decisions about how to use the technology to their advantage.

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