By using a decentralized ledger system, which significantly reduces the is distributed across a network letters of credit by allowing of information, and, consequently, contributing alter any individual record.
In , IBM was hired by several major banks in Europe to create a platform that small businesses could use to finance cross-border orders. They claimed that previous transactions were successful as proof-of-concept but theirs was the first that could be applied commercially. No more printing, signing, attaching, sealing, and sending documents by courier expenses.
