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How blockchain could shape international trade

How blockchain could shape international trade

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This Huge Bet on Blockchain Could Change A $50 Trillion Industry
A blockchain technology software created for foreign trade management can be shaped according to the results of this study. Originality/value � Although the. Proven benefits of a blockchain-based solution for trade finance � Pursue new revenue streams through new financing products and alternatives to. Blockchains can also be used to.

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Blockchain has a significant impact on global cost and supply. Unlike traditional centralised transaction systems, blockchain uses a consensus algorithm to secure data consistency; hence no longer requires a trusted third party Zheng et al. It can reduce trade expenses and increase supply chain transparency and opportunities for SMEs Dutta et al. First of all, I would like to thank my supervisor Dr Vesna Sedoglavich for her well- structured and engaged feedback in guiding me through the writing process. The empirical findings presented that blockchain can facilitate the supply chain by providing a high level of transparency and better product traceability.