On November 27, 2018, the World Trade Organization (WTO) published an analysis on the potential impact of Blockchain technology on international trade.
The publication explores how the technology enhances trust through decentralizing the record of transactions and describes the potential applications of the technology under areas covered by WTO rules.
Some of the possible benefits listed in the publication include:
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Hastening of the transition to paperless trade transactions;
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Automation of contracts;
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Ease of administration of intellectual property right;
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Enhancing government procurement processes.
Additionally, the publication discusses challenges facing potential users of the technology before it can have a significant impact on international trade, such as scalability and integration of various platforms.
The WTO press release may be found here:
https://www.wto.org/english/news_e/news18_e/publ_26nov18_e.htm
The publication may be downloaded here:
https://www.wto.org/english/res_e/publications_e/blockchainrev18_e.htm
