Global Value Chain passport a blockchain based business passport will help SMEs who are following their host country’s financial rulebook for easing trade and increasing financial access globally.
This would power the GVC Passport with a distributed, more trusted way to verify business’ accreditation.
Eventually it will result in a more efficient financial system with firms – especially SMEs ones that normally lack a global presence.
In the B20 summit on wednesday, Saudis pitched their GVC Passport to global business leaders for making business accreditation a easier process.
“Adoption of this policy initiative will help SMEs in the recovery phase,” – B20 Chairperson.