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a wholly owned subsidiary of Infosys. To demonstrate this, the trade finance pilot saw confirmation to import shredded steel melting scrap by a Mumbai-based firm, from a Dubai-based supplier. The pilot transaction was executed to showcase confirmation of import of shredded steel melting scrap by a Mumbai-based exportimport firm from a Dubai-based supplier. This facilitated the stakeholders to execute a trade finance transaction through a series of encrypted and secure digital contracts.

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'imps' is Immediate Payment Service and it is commonly known as Interbank Mobile Payment Service. Ifsc Code is assigned by RBI. Documentation and record of authenticable ownership, along with transfer of assets would be streamlined digitally, in real-time, on a tamper-proof ledger. In late 2015, London-based Standard Chartered and Singaporean bank DBS revealed a distributed ledger for trade finance. For banks and the global finance, blockchain could very well revolutionize the traditionally paper-intensive, time-consuming trade finance process. Further, it allowed each participant to check online the status bitcoin hinta elää bitfinex of the application, transfer of title and transmission of original trade documents through a secure network, while preserving client and commercial confidentiality.