Bringing the facts into perspective of the international trade, humongous $1.5 trillion trade finance gap has persisted despite many breakthroughs. this is mainly because of declining conducive trust among the parties involved in trade. Micro, macro and MSME's are facing the major chunk of rejection from the banks for financing their trade. As large as 74% of total rejections are from MSME's, this represent the fact of the situation in the last fiscal year. This has translated into low job creation and lack of opportunities effecting the economic growth of the country. Surrounding this environment, blockchain technology envisions the gap created because of mistrust among parties. Many fintech companies are on the verge of finding the solution for the enormous gap being created, but very few are getting credited. The blockchain technology is helping the cost of delivering finances to the traders and MSME's and finding to bridge the gaps created. With expanding global reach and high demand for goods across regions the need for international trade is also increasing leaps and bounds. so, there is very need in this current state to increase the trust among financial institutions on the Trade parties and support them for their working capital solutions. Findings reveal that financial institutions are reluctant to provide trade finance to small businesses is rooted in the cost and complexity of anti-financial crimes, due diligence and the perception of low returns on financial support from smaller firms. With the advent of new revolution in technologies, Blockchain is helping exporters and importers towards dizitization and increase the capital liquidity for trade. The decreased trade cycle time with the help of blockchain is helping traders increase their scope of work and create more employment for the skilled. Understanding the persisting needs and requirement, Simplyfi has created a marketplace for all the stakeholders of the international trade to reduce the complexities like trust, working capital liquidity, fraud and increasing trade cycle. with the increase in awareness for the blockchain technology among banks and financial institutions, the role of fintech companies is by large a significant role in connecting the players and help transactions flourish smoothly. simplyfi is thereby playing a vital catalyst in increasing the revenues and indirectly helping the country to take the GDP and economic growth a step ahead.

Blockchain is an exciting innovation. Blockchain's impact worldwide is limited to crypto-currencies as of now. Many more platforms are in work, slowly building their community. The recent few years with the progress of cryptocurrency saw a massive growth in the fintech sector and the world got introduced to the concept of Blockchain technology. Because of its initial use for the digital currency, many of the business owners remained unaware to the utility and benefits of blockchain technology. There is still need for them to know the solutions it can provide and promises this technology can make in the development of businesses. The services of blockchain are not limited to just the financial sector, but it works in a wide range of departments and fields where companies desire to rely on secure and safe solutions for their businesses.

The world is getting ready to understand the concept of blockchain, and the corporates are still exploring the best use cases that could fit the bill for their business. There are many industries like banking, supply chain, energy, insurance, retail, telecommunication and healthcare that are going to get their fate changed with the introduction of blockchain technology into them. this technology revolution has changed its phases from realization to realty today.
Blockchain has the potential to disrupt more facets of your life than perhaps any other technology. Increased penetration of digital technology in the businesses has resulted in the development of easy to use online platforms and applications. This drives the need to carry out the online transactions in a secure manner. Blockchain techminates the frauds due to errors and identity theft to a large extent.

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