Global Trade Connectivity Network (GTCN)
"The GTCN is going to remove the inefficiency and risks of fraud inherent in the existing paper-based system in trade finance.
Once implemented, the interface, likely to be the first of this kind in the world, has been designed with an open architecture that would allow Hong Kong's other trading partners to plug into it in future."
Mitigation of Duplicate Invoice Financing
End-to-end Digitalization of Trade Finance
GTCN will facilitate end-to-end digitalization of trade and trade finance processes across borders.
Increased interoperability across platforms
Built on Distributed Ledger Technology (DLT), GTCN allows different industry initiatives to interoperate and take advantage of the innate properties of DLT to establish trust across the trade and trade finance platforms.