Trade finance has been the backbone of the global economy for many years, but recently, due to globalization and increased use of the Internet , it flourishes at a faster rate. The volume of goods and services traded across borders has increased, leading to an increase in the number of banks and businesses lending money for these trades. The whole process of this distribution business requires not only a trader and seller but also a large number of middlemen. Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”? Get an original essay On the other hand, process participants are vulnerable to business and commercial risks arising from different sets of factors that include delayed processes , different regulations in different geographic areas, less fluidity in documentation and payments, logistical obstacles. Banks that finance these companies are also exposed to risks and therefore costs increase, which ultimately leads to unfavorable contract terms. This dark cloud of inefficiencies, risks and legal issues hangs over the trade finance market, which seriously affects global trade. With the recent advent of Blockchain, banks and businesses are onboarding millions of people to reap the rewards of this technology. Blockchain, which began as the underlying process for Bitcoins, now has the potential to streamline businesses by processing data in real time, thereby reducing logistical hurdles and, furthermore, eliminating almost all third-party intermediary fees. Because of its security, distributed ledger technology, and open consensus. system, Blockchain can almost revolutionize the trade finance market. As time is a very important asset in the financial market, it can be significantly reduced through the use of this technology. Through real-time review of required documents, Blockchain can significantly reduce the time required to complete the entire process of shipping and receiving goods. The entire documentation process by banks and other companies, which takes almost a week, will be reduced to seconds when participants upload their documents and verification will be carried out in real time. The coded security it offers allows all business transactions to be recorded and recorded. maintained without any fear of theft. This technology creates a tamper-proof database as the data once entered cannot be modified later as any new record inserted will carry a hash code of the previous block and hence it becomes very difficult to modify the previously entered data. A private key encrypted database can also be implemented for added security and accessible only to specific personnel. Blockchain will help combat fraudulent practices by controlling double entry of the same products, prohibiting consumers from falsely claiming that products are of poor quality. The consensus mechanism of this technology will deprive any entity of having full control over the process, which will eliminate any type of risk of manipulation. Transaction fees charged by banks and other merchant sites will be completely removed and therefore there will be more favorable contracts helping both the merchant and the seller. Blockchain would also play a crucial role in the advancement of businesses and processes that constitute a back-end of finance...