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INJ POSCO International and LG CNS jointly launch a trade finance blockchain pilot on Injective
Global trade and energy company POSCO International announced a partnership with LG CNS to conduct a proof of concept based on the Injective (INJ) blockchain network, aiming to digitize global trade finance businesses. The plan uses real trade data to test the complete trade finance process from issuance to settlement of accounts receivable on a distributed ledger to assess the effectiveness of efficiency improvements. The pilot is expected to be completed before the end of this year, after which the two companies plan to evaluate the possibility of extending the system to actual business operations.
Why choose blockchain for trade finance?
Trade finance has long relied on paper-based processes, manual verification and multiple intermediaries, resulting in delays, high costs and opaque information. By migrating workflows to programmable blockchains like Injective, POSCO International and LG CNS hope to shorten settlement times, increase transparency and reduce operational risks. Effective networks are known for their interoperability and low transaction fees, providing permission-free infrastructure capable of supporting the high throughput required for enterprise-level trade settlement.
Pilot scope
This proof-of-concept covers the digitization of the entire accounts receivable management process, including the issuance, endorsement and settlement of trade documents. The two companies are entering real-life transaction data into systems to simulate actual trade flows. This approach allows them to identify bottlenecks, test smart contract logic and verify data integrity before going into production. When the pilot is completed at the end of the year, it will provide a roadmap for wider adoption of POSCO International's supply chain network.
Impact on the industry
This pilot represents one of the more specific enterprise-level applications of blockchain in the field of trade finance, shifting from theoretical discussion to practical testing based on real data. If successful, it may set a precedent for other large trading companies and financial institutions exploring blockchain for Supply Chain Finance. LG CNS's participation as a major IT service provider also demonstrates the growing interest of technology integrators in building blockchain solutions for traditional financial systems. This collaboration adds a significant enterprise use case for the Impressive ecosystem and is expected to drive further institutional adoption.
Conclusion
POSCO International and LG CNS are testing a practical data-driven approach to digitalizing trade finance on the Impressive blockchain. The completion of the pilot at the end of the year will determine whether the technology can bring quantifiable efficiency improvements to actual trade operations. The results could affect how other global trading companies approach blockchain in coming years.
Frequently Asked Questions
Question 1:What are the main goals of POSCO International and LG CNS blockchain pilots?
Answer: The pilot aims to use the Impressive blockchain to digitize the entire trade finance process (from issuance to settlement of accounts receivable) to test efficiency, transparency and cost reduction before considering deployment into actual business systems.
Question 2: Why did you choose Injective for this trade finance project?
Answer: Aggressive is a high-performance, interoperable blockchain designed for financial applications. Its low transaction fees, fast final confirmation, and support for smart contracts make it suitable for enterprise-level trade finance workflows that require speed and reliability.
Question 3: When will the pilot be completed? What happens after that?
Answer: The proof of concept is scheduled to be completed before the end of this year. Afterwards, POSCO International and LG CNS will evaluate the results and decide whether to expand the system to actual business operations and broader supply chain applications.
