Blockchain is transforming global trade by fostering integration, interoperability, and inclusivity. As it evolves with the next internet phase, it promises a secure, intermediary-free trading world accessible to all. Trade growth relies on deeper market integration and inclusion of small firms, yet inefficiencies persist, highlighted by recent supply chain issues.
Blockchain addresses these challenges by enhancing trade logistics, compliance, finance, and cross-border payments, tackling duplicative efforts, traceability, interoperability, and fraud risks. Recent use cases and pilots demonstrate blockchain’s potential, revealing significant opportunities. However, policy and deployment challenges must be addressed to fully leverage blockchain's benefits in global trade.
Read the white paper by Kati Suominen for the Hinrich Foundation here.
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