Chainlink's Role in Streamlining Global Trade Challenges - Part 2

This is the second part of this article. Here you can read the first part

Among these, fraud, errors, and visibility issues stand out as critical areas requiring innovative solutions. Let’s explore more about Chainlink’s role in solving Global Trade issues.

5) Fraud

Global trade faces fraud, like counterfeits and double financing, due to poor verification and transparency. Chainlink’s technology can significantly mitigate these risks by providing immutable, transparent records of transactions and product provenance.

Example: Consider the issue of counterfeit goods in the pharmaceutical industry. Chainlink can ensure that each product’s journey from manufacturing to delivery is securely recorded on the blockchain. Through unique digital identifiers verified by Chainlink oracles, stakeholders can authenticate products in real time, effectively combating counterfeits.

6) Errors

Errors such as missing cargo, duplicate payments, and inventory tracking mistakes are rampant in global trade. These problems worsen with the difficulty in real-time detection and complex transaction matching for remediation.

Example: In the case of duplicate payments, Chainlink’s smart contracts can automatically verify payment conditions against delivery and invoice records, ensuring that payments are only processed once the criteria are met. This reduces the risk of duplicate payments by providing a single source of truth for transactions.

7) Visibility

The lack of visibility across the supply chain, including the tracking of orders, shipments, and payments, is a significant hurdle. Syncing issues in backend systems, with orders split or combined, makes audits less effective for decision-making and operations.

Example: A shipment that is part of a larger order gets delayed, affecting the entire order’s fulfillment. Using Chainlink, each part of the order can be tracked in real-time on the blockchain, with smart contracts updating the status automatically. This ensures all parties have up-to-date information, allowing for better planning, coordination, and response to delays or issues.


Chainlink’s decentralized platform addresses critical challenges in the global trade industry. By ensuring fraud prevention, minimizing errors, and enhancing visibility, Chainlink not only streamlines operations but also opens up new avenues for growth and efficiency, marking a significant leap forward in the trade sector’s evolution.


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