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Building Trust in Trade with Blockchain
Building trust in trade – why banks invest in blockchain
Join us to hear how the role of banks is changing and why they invest in blockchain. When ASB and the founders of TradeWindow successfully tested New Zealand’s first bank blockchain single trade window three years ago, they changed the game for one of the most paper-bound sectors on the planet, greatly easing the administrative burden for importing and exporting businesses.
The application of blockchain technology across the trade supply chain was a new solution for an age-old problem – building trust between all the parties who make trade happen. It allows all parties to the trade to access necessary documents for international business, such as bills of lading, commercial invoices, certificates of origin, health and insurance certificates and a host of other documents required by customs, shippers, insurance and finance partners. The blockchain layer facilitates this document exchange and provides the security and transparency that no other digital solution provides.
It also creates an untransmutable record of provenance which is invaluable to Kiwi businesses whose brand relies on New Zealand’s international brand reputation as a safe and sustainable source of produce.
- Why did ASB seek out this blockchain-based solution?
- How did the ASB and Trade Window partnership get started?
- How is the partnership developing and what does the future hold?
AJ founded TradeWindow in June 2018, building on a track record of innovation and investment in successful rapid-growth companies in South Africa, Switzerland and New Zealand including MediFin, GreenFin and Bonds Africa. With a strong belief in building high-performance teams, AJ holds a B. Comm from University of Free State and is an active executive member of the Young Presidents Organization
For over 30 years, Mike has worked closely with exporting and importing businesses delivering Banking solutions that help to support Kiwi’s to move goods across borders. Most recently, Mike has been involved in the development of TradeWindow, a blockchain-based platform incubated through ASB’s International Trade and Innovation Teams. TradeWindow launched as a fully-fledged company in 2019 and Mike manages this partnership for ASB. During his career Mike has led specialist teams that market and deliver working capital solutions for NZ-based businesses trading internationally. Outside of banking, Mike launched his own business supporting the sector, giving him a strong appreciation of the challenges facing start-up businesses. He’s been involved at industry level in an advisory capacity to export agencies and has recently been part of the Digital Council of Aotearoa’s work on digitising the Trade process. Mike has a deep appreciation of global business, the ecosystem that supports it and international regulatory requirements.
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