Article: Digitalizing the End-to-End International Trade Finance Process and the Law: A Mission for the Entire Ecosystem

Q2 Social Sciences European Business Law Review Pub Date : 2024-02-01 DOI:10.54648/eulr2024009

Mohamed Khair Alshalel

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Abstract

This article considers the digitalization of the end-to-end trade finance process. Given that the emergence and adoption of innovative technologies in trade finance have made full digitalization possible, this article argues that digitalizing the entire trade finance process is a mission for the entire trade finance ecosystem: to successfully digitalize the full trade finance process, one would need to get all the parties involved on board. It also argues that innovation is only one piece of the puzzle and supporting legal frameworks and recognized standards are essential to accelerate the digitalization journey. Divided into seven parts, the article outlines the development of the trade finance industry, focusing on the main challenges and the legal responses to digitalization, before assessing why digitalization the entire process is hard to scale. It discusses disruptive technologies in trade finance, concluding that collaboration between the trade finance industry parties and removing legal uncertainty can assist in accelerating the digitalization transformation. Digitalizing the end-to-end process, trade finance, disruptive technologies, blockchain, standardisation and harmonisation, MLETR, URDTT

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文章：端到端国际贸易融资流程和法律数字化：整个生态系统的使命

本文探讨了端到端贸易融资流程的数字化问题。鉴于贸易金融领域创新技术的出现和采用使全面数字化成为可能，本文认为，贸易金融全流程数字化是整个贸易金融生态系统的使命：要成功实现贸易金融全流程数字化，需要让所有相关方都参与进来。文章还认为，创新只是拼图的一部分，配套的法律框架和公认的标准对于加快数字化进程至关重要。文章分为七个部分，概述了贸易金融行业的发展，重点关注数字化面临的主要挑战和法律对策，然后评估了整个流程数字化难以推广的原因。文章讨论了贸易金融中的颠覆性技术，认为贸易金融行业各方之间的合作以及消除法律不确定性有助于加快数字化转型。端到端流程数字化、贸易金融、颠覆性技术、区块链、标准化与协调、MLETR、URDTT

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来源期刊

European Business Law Review Social Sciences-Law

CiteScore

1.10

自引率

0.00%

发文量

期刊介绍： The mission of the European Business Law Review is to provide a forum for analysis and discussion of business law, including European Union law and the laws of the Member States and other European countries, as well as legal frameworks and issues in international and comparative contexts. The Review moves freely over the boundaries that divide the law, and covers business law, broadly defined, in public or private law, domestic, European or international law. Our topics of interest include commercial, financial, corporate, private and regulatory laws with a broadly business dimension. The Review offers current, authoritative scholarship on a wide range of issues and developments, featuring contributors providing an international as well as a European perspective. The Review is an invaluable source of current scholarship, information, practical analysis, and expert guidance for all practising lawyers, advisers, and scholars dealing with European business law on a regular basis. The Review has over 25 years established the highest scholarly standards. It distinguishes itself as open-minded, embracing interests that appeal to the scholarly, practitioner and policy-making spheres. It practices strict routines of peer review. The Review imposes no word limit on submissions, subject to the appropriateness of the word length to the subject under discussion.