Trade finance, the financial instruments and products that are used by companies to facilitate international trade and commerce generates an estimated 28 billion pieces of paper globally every year. Enigio, a World Economic Forum Tech Pioneer, is out to change that by providing freely transferable digital documents that are legally compliant in applications such as bills of of lading, promissory notes, bank guarantees and warehouse receipts. The Swedish scale-up uses blockchain and cryptographic key pairs to ensure the consistency, integrity and traceability of the digital data and protect it from manipulation. Clients include Lloyds Bank and Mercore, a global trade focused fintech group, as well as corporates and logistics providers.
