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Application of Blockchain in International Trade: An Overview

Author

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  • Mihaela Gabriela Belu

Abstract

The purpose of this paper is to present the potential advantages of using blockchain technology in the field of international trade. Blockchain, known as one of the disruptive technologies of the moment, will bring important changes to the process of specific foreign trade operations. In this paper, there are presented elements specific to the blockchain technology, its underlying principles, but also the areas in which this technology can be applied. Referring to the academic literature and various online sources, we identified blockchain-based applications in the international trade field (logistics and financial scope) and we highlighted the potential benefits of this technology.

Suggested Citation

  • Mihaela Gabriela Belu, 2019. "Application of Blockchain in International Trade: An Overview," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 22(71), pages 2-15, March.
    • Handle: RePEc:rej:journl:v:22:y:2019:i:71:p:2-15
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    Citations

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    Cited by:

    1. Imad Antoine Ibrahim & Jon Truby, 2022. "Governance in the era of Blockchain technology in Qatar: a roadmap and a manual for Trade Finance," Journal of Banking Regulation, Palgrave Macmillan, vol. 23(4), pages 419-438, December.
    2. Toorajipour, Reza & Oghazi, Pejvak & Sohrabpour, Vahid & Patel, Pankaj C. & Mostaghel, Rana, 2022. "Block by block: A blockchain-based peer-to-peer business transaction for international trade," Technological Forecasting and Social Change, Elsevier, vol. 180(C).
    3. Ernest Barceló & Katarina Dimić-Mišić & Monir Imani & Vesna Spasojević Brkić & Michael Hummel & Patrick Gane, 2023. "Regulatory Paradigm and Challenge for Blockchain Integration of Decentralized Systems: Example—Renewable Energy Grids," Sustainability, MDPI, vol. 15(3), pages 1-27, January.
    4. Md. Nur Alam Siddik & Sajal Kabiraj & Md. Emran Hosen & Md. Firoze Miah, 2021. "Blockchain Technology and Facilitation of International Trade: An Empirical Analysis," FIIB Business Review, , vol. 10(3), pages 232-241, September.
    5. Qi, Bitian & Shen, Yanbo & Xu, Tieyu, 2023. "An artificial-intelligence-enabled sustainable supply chain model for B2C E-commerce business in the international trade," Technological Forecasting and Social Change, Elsevier, vol. 191(C).

    More about this item

    Keywords

    blockchain; distributed ledger technology; international trade; logistics; Supply Chain Management;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • O - Economic Development, Innovation, Technological Change, and Growth

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