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WEF Lists Blockchain in Top Technologies to Shape Global Trade

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WEF Lists Blockchain in Top Technologies to Shape Global Trade

The World Economic Forum (WEF) released a report on TradeTech detailing the top technologies that will shape global trade, following the COVID-19 pandemic. They consider TradeTech to be “the set of technologies and innovations that enable trade to be more ef cient, inclusive and equitable, is fundamental to harnessing the innovations of the Fourth Industrial Revolution to support the public good.”

The believe that blockchain fits into trade finance, to customs and certification processes, insurance, logistics and distribution, supply chain traceability, intellectual property and government procurement.”

A few areas that still require novel solutions include:

  • Data privacy within an ecosystem
  • Interoperability between blockchains
  • Standards for data formats and documents

You can read the full report here.

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