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How Blockchain Could Shape International Trade
Article

How Blockchain Could Shape International Trade

Financing the Supply Chain


автоматическое преобразование текста в аудио
автоматическое преобразование текста в аудио

Editorial Rating

8

Qualities

  • Visionary
  • For Experts
  • Insider's Take

Recommendation

With a globalization backlash clouding international trade, a technology such as blockchain could help advance world commerce. In this succinct and edifying account, Rebecca Liao makes a good case for blockchain’s applications to trade finance and its information flows. Although Liao may not be an objective observer – her business, Skuchain, sells blockchain technology to supply chains – her forward-looking report, which getAbstract recommends, will be useful to bankers and executives involved in global trade.

Take-Aways

  • Blockchain could help more companies engage in global commerce.
  • Businesses are already using the technology to enable digital contracts and bookkeeping, and to do away with financial go-betweens.
  • Blockchain could expedite international trade because it reduces “performance and counterparty risks” through the real-time digital tracking of goods and documents.

About the Author

Rebecca Liao is vice president of business development and strategy at Skuchain, a firm that offers blockchain technology for supply chains.


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    S. F. 6 years ago
    How great block-chain is, but all articles are skimpy on exactly how it is implemented; why multiple servers guarantee the integrity of the data? And, it still is an after-the-fact approach requiring humans to report accurately the latest step in the workflow.