Question: ANSWER THE QUESTION IN RELATION TO BLOCKCHAIN PLEASE INCLUDE A LENGTHY RESPONSE. FOR FULL UNDERSTANDING To understand blockchain technology (a type of distributed ledger technology,

ANSWER THE QUESTION IN RELATION TO BLOCKCHAIN PLEASE INCLUDE A LENGTHY RESPONSE. FOR FULL UNDERSTANDING

To understand blockchain technology (a type of distributed ledger technology, DLT) and its role in transforming the traditional trade finance process:

a. Why do banks need to form consortia to implement blockchain-based trade financing?

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