📄 World Trade Organization Report on Blockchain and DLT in Trade, COVID-19
Free download of their 51 page whitepaper
Today’s free resource is a 51-page whitepaper from the World Trade Organization and Trade Finance Global on Blockchain and Digital Ledger Technology’s impact in Trade. The report covers a number of standardization initiatives as well as how Blockchain technology can address the reliance on paper trade documents in the era of COVID-19.
The COVID-19 pandemic has accelerated digitalization in all sectors, including international trade, which remains hindered by inefficient paper-intensive processes. Of particular interest for trade digitalization are projects leveraging distributed ledger technology (DLT) – commonly referred to as Blockchain. The tamper-proof and decentralized nature of DLT makes it useful for breaking the silos that constrain international trade. Many projects that were at an exploratory stage when the first “Blockchain and DLT in Trade” publication was launched in November 2019 have matured and reached the production stage. This publication looks at the current situation.
This publication maps 44 projects related to trade finance, insurance, know your customer, shipping/logistics and supply chain, digitalization of trade documents and trade processes as well as other projects, such as marketplaces, and assesses their level of maturity. A new section on standardization initiatives provides an overview of projects that work towards creating digital standards relevant for trade to drive digital interoperability. The report also showcases the results of a supplementary survey analyzing the impact of the COVID-19 pandemic on the projects featured.