To enable SMEs to get better funding, the Hong Kong Monetary Authority (HKMA) and the Bank for International Settlements (BIS) Innovation Hub have started Project Dynamo. This project will use Decentralized finance (DeFi), smart contracts, and blockchain to explore the pool of funds available and the impact of funding costs. In the future, BIS intends to use artificial intelligence to evaluate SME credit risks and innovative supply chain funding solutions while confirming the interoperability of various payment solutions like central bank digital currency and stablecoins for financing cash flows of SMEs. Furthermore, blockchain may be utilized to tap alternative finance sources other than banks.
FinTech’s Green Revolution: Nurturing Sustainable Practices Among Small Businesses
BY Triterras
- 09/04/24
Ashish Srivastava, our Triterras' Chief Commercial Officer shares in-depth with Intelligent Fin.Tech, a global technology intelligence platform which gathers the latest financial information, on how FinTech has emerged as a crucial catalyst, motivating and supporting small to medium enterprises on their path towards environmental responsibility through sustainable trade finance.