Question: ANSWER THE QUESTIONS IN RELATION TO BLOCKCHAIN PLEASE INCLUDE A LENGTHY RESPONSE. FOR FULL UNDERSTANDING 1. To understand the traditional trade finance process: a. What

ANSWER THE QUESTIONS IN RELATION TO BLOCKCHAIN PLEASE INCLUDE A LENGTHY RESPONSE. FOR FULL UNDERSTANDING1. To understand the traditional trade finance process:

a. What is the role of banks in the trade finance process?

b. What rare the bottlenecks in the traditional trade finance process?

2. 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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