Block by block: A blockchain-based peer-to-peer business transaction for international trade

Heterogeneity and complicated processes, risk of information leakage, higher costs are some the challenges that stem from third-party involvement in business transactions. This study proposes a novel mechanism to address shortcomings third-party-dependent transactions context international trade. Moreover, we provide process modeling, deployed transaction scenario, furnish deeper perspective on working based Business Process Model Notation (BPMN) 2.0 standards guidelines. By analyzing identifying blockchain roles capabilities, this technology-based letter credit (BTLC), which is providing letters (LCs) incorporate benefits smart contracts.