The research aimed to analyse the impact of blockchain technology on international trade and find out how blockchain technology can improve the various fields of international trade. The research also intended to find the challenges regarding the implementation of blockchain technology in international trade to help companies achieve successful collaboration and understand what requirements need to be met in advance.
The literature review of this research covered the fundamentals of blockchain technology, blockchain's role in facilitating supply chain and trade finance, the impact and adoption of blockchain technology, and blockchain implementation's key challenges. A qualitative approach was used based on 12 semi-structured in-depth interviews with ten companies operating in different business fields and two blockchain specialists to obtain empirical data.
This research found that blockchain technology has significantly impacted international trade by improving supply chain efficiency, reducing the complexity of the paper-based trade process, and enabling faster cross-border payments. The empirical findings presented that blockchain can facilitate the supply chain by providing a high level of transparency and better product traceability. Furthermore, the findings showed that smart contracts could facilitate trade finance by providing automatic payments and eliminating intermediaries and blockchain-based ICOs could be a great fundraising option for innovative projects. However, this research also found that the large-scale implementation of blockchain in trade finance is still not possible due to government regulations.
Blockchain technology ensures to transform the supply chain and trade finance and reduce the complexity of the current international trade process. However, some critical challenges are associated with blockchain implementation, and some essential requirements need to be met in advance for successful implementation, which was discussed in this research. Furthermore, several suggestions regarding the large-scale implementation of blockchain in trade finance were presented.
The empirical findings will help companies develop their adoption strategies and prepare to implement the technology in the trade process. Furthermore, the findings of this research can bring new insight into the policymaking process regarding the implementation of blockchain in trade finance.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Literature Review
- What is Blockchain Technology?
- Blockchain technology: a practical application in the international trade and supply chain.
- The Implementation of Blockchain Technology in Trade Finance.
- Challenges for Implementation of Blockchain Technology
- Research Methodology
- Research Design
- Data Collection
- Data Analysis
- Findings and Discussion
- Blockchain's Impact on Supply Chain
- Blockchain's Impact on Trade Finance
- Key Challenges of Blockchain Implementation
- Conclusion and Recommendations
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This dissertation investigates the influence of blockchain technology on international trade, exploring its potential to enhance various aspects of this complex process. The research aims to uncover how blockchain can improve supply chain efficiency, streamline trade finance processes, and facilitate faster cross-border payments. Furthermore, the dissertation examines the challenges associated with implementing blockchain technology in international trade, identifying the requirements for successful adoption by businesses.
- The impact of blockchain technology on international trade.
- The role of blockchain in improving supply chain efficiency.
- The use of blockchain in streamlining trade finance processes.
- The challenges associated with implementing blockchain technology in international trade.
- The requirements for successful implementation of blockchain technology in international trade.
Zusammenfassung der Kapitel (Chapter Summaries)
The introduction provides a background on the dissertation's research topic and outlines the importance of blockchain technology in international trade. It also highlights the research objectives and the methodology used to achieve them.
The literature review delves into the fundamentals of blockchain technology, exploring its practical applications in facilitating supply chain and trade finance processes. It also examines the impact and adoption of blockchain technology, analyzing the key challenges associated with its implementation.
The research methodology chapter outlines the research design, data collection methods, and data analysis techniques employed in the study.
The findings and discussion chapter presents the results of the research, examining the impact of blockchain on supply chain efficiency and trade finance. It also analyzes the key challenges associated with blockchain implementation and explores potential solutions.
Schlüsselwörter (Keywords)
This research focuses on the intersection of blockchain technology and international trade, exploring the practical applications of blockchain in the realm of supply chain management and trade finance. The study examines the impact of blockchain technology on these critical areas, analyzes the challenges associated with its implementation, and identifies key requirements for successful adoption.
- Quote paper
- Mehedi Hasan (Author), 2021, Blockchain Technology and its Impact on International Trade. What does the Future Hold?, Munich, GRIN Verlag, https://www.grin.com/document/1138816
