BuildingaBlockchain
• Keycharacteristics:Consensus;Provenance;Permissionedaccess;Security.
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FourKeyConceptsofBlockchain forBusiness
JWiley&Sons(2017)
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TradeFinanceissubjecttoInformationandTransactionalFrictions
37
820
35
Borderrelatedcostsarehigherthantransportcostsforinternationaltrade
ExportProductionCostInternationalTradeCost- TransportCostsInternationalTradeCost- BorderrelatedtradebarriersRetail/Localdistributionmargins
Sources:1)MaerskStrategyGroup(May19,2016)basedonWorldBankdataforWorldTradeCosts2)AndersonandWincoop E.(2004)Tradecosts.NationalBureauofEconomicResearch3)WorldEconomicForum:EnablingTradeValuingGrowthOpportunities2013
TheWorldEconomicForumestimatesthatreducingtradebarrierswillsignificantlyenabletrade
4,7%
14,5%
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PaperTrailofaContainer
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TheCaseforGlobalTradeDigitization
Source:UN/CEFACT- TradeandCustomsuseofBlockchain
Source:https://transporteca.co.uk/shipping-process/
TRANSFORMATION
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Applications• Blockchain hasthepotentialtoimproveworkflowandreal-time
visibility.Thereareanumberofongoingshipping-related
applicationsandprojects:
– Maersk&IBM:managementofcontainershippapertrail
– Maersk:marineinsurancecontracts
– Mercuria:shippedandsoldacargoofcrudeoilusing
blockchain technologytofacilitativepaperworkprocessing
– DNVGL:managementsystemsandcertification
– PSA:supplychainandportmanagement.
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