BIS highlights decentralization and distributed ledgers with trade finance digitization competition

The Bank of International Settlements's Innovation Hub is partnering with the Hong Kong Monetary Authority on a new tech-focused competition centered around the digitization of trade finance.

The BIS said in an announcement post on August 3 that it will be accepting prospective submissions until the end of the month. Participating judges will make their initial selections over the course of September and early October, with some participants being invited to give presentations between October 12 and 15. Projects that advance beyond that stage will be invited to develop full prototypes in a sandbox environment in 2021. 

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