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Blockchain Technology and its Impact on International Trade. What does the Future Hold?

Author: Mehedi Hasan

Publisher: GRIN Verlag

Published: 2021-10-18

Total Pages: 91

ISBN-13: 3346514463

Master's Thesis from the year 2021 in the subject Business economics - Miscellaneous, grade: Merit, University of Salford, course: International Business, language: English, abstract: The research aimed to analyse the impact of blockchain technology on international trade and find out how blockchain technology can improve the various fields of international trade. The research also intended to find the challenges regarding the implementation of blockchain technology in international trade to help companies achieve successful collaboration and understand what requirements need to be met in advance. The literature review of this research covered the fundamentals of blockchain technology, blockchain's role in facilitating supply chain and trade finance, the impact and adoption of blockchain technology, and blockchain implementation's key challenges. A qualitative approach was used based on 12 semi-structured in-depth interviews with ten companies operating in different business fields and two blockchain specialists to obtain empirical data. This research found that blockchain technology has significantly impacted international trade by improving supply chain efficiency, reducing the complexity of the paper-based trade process, and enabling faster cross-border payments. The empirical findings presented that blockchain can facilitate the supply chain by providing a high level of transparency and better product traceability. Furthermore, the findings showed that smart contracts could facilitate trade finance by providing automatic payments and eliminating intermediaries and blockchain-based ICOs could be a great fundraising option for innovative projects. However, this research also found that the large-scale implementation of blockchain in trade finance is still not possible due to government regulations. Blockchain technology ensures to transform the supply chain and trade finance and reduce the complexity of the current international trade process. However, some critical challenges are associated with blockchain implementation, and some essential requirements need to be met in advance for successful implementation, which was discussed in this research. Furthermore, several suggestions regarding the large-scale implementation of blockchain in trade finance were presented. The empirical findings will help companies develop their adoption strategies and prepare to implement the technology in the trade process. Furthermore, the findings of this research can bring new insight into the policymaking process regarding the implementation of blockchain in trade finance.

Can Blockchain Revolutionize International Trade?

Author: Emmanuelle Ganne

Publisher:

Published: 2018

Total Pages: 0

ISBN-13: 9789287047618

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Trade has always been shaped by technological innovation. In recent times, a new technology, Blockchain, has been greeted by many as the next big game-changer. Can Blockchain revolutionize international trade? This publication seeks to demystify the Blockchain phenomenon by providing a basic explanation of the technology. It analyses the relevance of this technology for international trade by reviewing how it is currently used or can be used in the various areas covered by WTO rules. In doing so, it provides an insight into the extent to which this technology could affect cross-border trade in goods and services, and intellectual property rights. It discusses the potential of Blockchain for reducing trade costs and enhancing supply chain transparency as well as the opportunities it provides for small-scale producers and companies. Finally, it reviews various challenges that must be addressed before the technology can be used on a wide scale and have a significant impact on international trade.

How Blockchain Technology Is Reshaping International Trade in Goods

Author: Toluwabori Magbagbeola

Publisher:

Published: 2020

Total Pages: 87

ISBN-13:

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White Paper Blockchain in Trade Facilitation

Author: United Nations

Publisher:

Published: 2020-12-28

Total Pages: 158

ISBN-13: 9789211172546

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Blockchain technology is one of the most talked about topics in the sphere of information technology as well as in the facilitation of electronic business. The cryptocurrency Blockchain applications are well known and well-publicized, however, this technology has the potential to influence the way that we do business today, as its use expands to new areas. Blockchain, which is one form of Distributed Ledger Technology (DLT), offers opportunities to increase the reliability and security of trade transactions. The repetition of data among multiple ledgers in a network, as well as the immutability of information after it has been integrated into the Blockchain, can increase levels of confidence for both traders and regulators.

Big Data and Global Trade Law

Author: Mira Burri

Publisher: Cambridge University Press

Published: 2021-07-29

Total Pages: 407

ISBN-13: 110884359X

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An exploration of the current state of global trade law in the era of Big Data and AI. This title is also available as Open Access on Cambridge Core.

Can Blockchain Revolutionize International Trade?

Author: Emmanuelle Ganne

Publisher:

Published: 2018

Total Pages: 0

ISBN-13: 9789287047618

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The Blockchain Future

Author: Robert Seymour

Publisher:

Published: 2021-12-09

Total Pages: 180

ISBN-13:

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If you want to understand the whole new universe of Blockchain and Crypto technology then keep reading... This whole new world of Blockchain and Cryptocurrency that has exploded has made an impact that is hard to comprehend. Understanding the jargon is only the start of the journey. Governments, businesses, investors large and small not to mention the 'man in the street' that are trying to make sense of it all and if it will effect their lives personally and in their work environment. Well, it will effect everyone! And, very soon, if not already. The speed of Blockchain and Cryptocurrency development has never been seen before since the invention of the Internet. But, it's growing at over 100 times faster than the adoption of the Internet. But, don't panic... This book that is written for everyone who is interested in Crypto and Blockchain. It will provide an understanding of this amazing technology and the use cases that will impact our very existence. From the inception of Bitcoin to the alternative Cryptocurrencies to where the underlining technology is being utilized to make efficiencies in the real world. Every country in the world is adopting Blockchain technology in some form to provide their economies their ability to re-establish their internal structures. From being able to make purchases with Crypto such as groceries, cars, houses, holidays to making international payments within minutes at little cost. But, where the Blockchain really makes a difference are Smart Contracts. These contracts enable fast executable agreements between parties that are safe, secure and cannot be changed without all parties agreeing. We have brand new applications from gaming, trading, social media, banking, music, art and every conceivable idea that can be built without the need for huge infrastructure. This book will provide you with an easy read and without too much jargon of how it all started and a holistic view of where it's going! In this book you will discover: 87 most common used terminologies The rise of Cryptocurrency and Blockchain The technology that makes it all work The impact of being your own bank How the financial institutions are joining in the fun How social media will change That privacy does actually matter Use cases that you can experience now What the future will hold for you How fast new business models are happening What are NFTS and so much more... If you need to understand this whole new amazing technology, then scroll up and click the "Add to Cart" button now!

Global Trends 2040

Author: National Intelligence Council

Publisher: Cosimo Reports

Published: 2021-03

Total Pages: 158

ISBN-13: 9781646794973

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"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.

Applications of Blockchain Technology in Business

Author: Mohsen Attaran

Publisher: Springer Nature

Published: 2019-09-25

Total Pages: 112

ISBN-13: 3030277984

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The book discusses the various ways that blockchain technology is changing the future of money, transactions, government, and business. The first two chapters walk through the foundation of blockchain. Chapters 3–12 look at applications of blockchain in different industries and highlight its exciting new business applications. It show why so many companies are implementing blockchain, and present examples of companies who have successfully employed the technology to improve efficiencies and reduce costs. Chapter 13 highlights blockchain’s powerful potential to foster emerging markets and economies including smart cities, value-based healthcare, decentralized sharing economy, machine to machine transactions, data-sharing marketplace, etc. Chapter 14 offers a conceptual model, provides information and insights, and covers a step-by-step approach to plan and develop blockchain-based technology.

Blockchain and Crypto Currency

Author: Makoto Yano

Publisher: Springer Nature

Published: 2020-04-15

Total Pages: 151

ISBN-13: 9811533768

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This open access book contributes to the creation of a cyber ecosystem supported by blockchain technology in which technology and people can coexist in harmony. Blockchains have shown that trusted records, or ledgers, of permanent data can be stored on the Internet in a decentralized manner. The decentralization of the recording process is expected to significantly economize the cost of transactions. Creating a ledger on data, a blockchain makes it possible to designate the owner of each piece of data, to trade data pieces, and to market them. This book examines the formation of markets for various types of data from the theory of market quality proposed and developed by M. Yano. Blockchains are expected to give data itself the status of a new production factor. Bringing ownership of data to the hands of data producers, blockchains can reduce the possibility of information leakage, enhance the sharing and use of IoT data, and prevent data monopoly and misuse. The industry will have a bright future as soon as better technology is developed and when a healthy infrastructure is created to support the blockchain market.