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Tata Partners With Contour To Build Blockchain Based Trade Network

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Tata Power on Monday said it has partnered with Contour, one of the most prominent digital trade finance platforms that are based in Singapore.

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This partnership will help build more secure, transparent and efficient system.

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Contour's network utilizes decentralised technology (blockchain) to connect businesses.

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Ecosystem partners and banks into a trusted network to facilitate a more efficient process for digital trade finance, the statement stated.

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The integration allows trusted data flow over the globe's trade routes as well as the current ecosystems that are fragmented, it said.

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Paper and manual methods in financial management slow growth in trade because they add cost and complexity.

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