Simplified and modified processes

Our use case will follow a simplified version of the preceding process, with certain variations to demonstrate the value of blockchain in facilitating this trade. A payment promise is made by the importer's bank to the exporter's bank in two installments. The exporter obtains a clearance certificate from the regulatory authority, hands off the goods to the carrier, and then obtains a receipt. The production of the receipt triggers the first payment installment from the importer's bank to the exporter's bank. When the shipment has reached the destination port, the second and final payment installments are made, and the process concludes.

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