Blockchain start-up Primechain Technologies has launched a platform that it claims enables the issuance and sharing of letters of credit (L/Cs) in a secure and confidential manner.

The TRADE-Chain platform is aimed at banks and financial institutions and is built on Hyperledger Sawtooth.


Primechain's CEO, Shinam Arora, says it can reduce the time taken for the exchange of export documentation from the current 7 to 10 days to less than a day.

"TRADE-Chain will enhance transparency, security and synergy and bring efficiency to trade finance, ensure cost effectiveness, quicker turnaround and unlock liquidity for businesses," she claims.

Hyperledger Sawtooth

Hyperledger Sawtooth, on which TRADE-Chain is based, is a blockchain platform for building distributed ledger applications and networks.

It claims to simplify blockchain application development by separating the core system from the application domain.

Unique applications

Application developers can specify the business rules appropriate for their application, using the language of their choice, without needing to know the underlying design of the core system.

An open source project, Sawtooth is also highly modular so application developers can choose, for example the transaction rules or permissions granted to users to create, amend or view documents.

This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.