How Blockchain will change Import Export and Global TradeNovember 2, 2021
Blockchain technology has the potential to revolutionize Global Trade and the import export process. Warwick from BeefLedger explains what blockchain technology is, how it works and how blockchain solutions are being applied to real world import export shipments.
Blockchain technology provides value for all parties along the supply chain, from shippers, freight forwarders, ports, customs, shipping lines and importers all over the world. Implementing blockchain throughout the supply chain will eliminate manual data re-entry, eliminate human error and increase security. It also provides the base for smart contracts to initiate events such as International payments when certain conditions are met.
Warwick and Ben discuss:
What Blockchain technology actually is?
How does Blockchain technology work?
How will Blockchain actually increase efficiencies in the supply chain?
How will Blockchain increase security in the supply chain?
How does Blockchain technology enable smart contracts and payments with Crypto-Currencies?
How will Blockchain change the Letter of Credit process?
How will banks implement the Blockchain / smart contracts / cryptocurrencies?
How will BeefLedger ensure security and compliance in the supply chain?
Importers and Exporters use to streamline Global Trade documentation