Blockchain & DLT in Trade
Where do we stand?
Following the launch of TFG / WTO / ICC’s publication “Blockchain & DLT in trade: A reality check” in November 2019 at the WTO Global Blockchain Forum, this updated research study provides an overview and updated periodic table.
A natural years’ worth of progression has been both accelerated and in some areas shunted by the forces of the Covid-19 pandemic, the widespread and long-lasting implications of which still remain unknown.
The study outlines the main projects, categories into Supply Chain Finance, Trade Finance, Know Your Customer (KYC), Insurance, DLT Digitiisayion of Trade Documents, Shipping & Logistics / Supply Chain, Other Initiatives and Marketplaces. The authors also mapped out 19 standardization initiatives, split by sector or process, general trade, private sector-led and regional / national initiatives, as well as the international standards bodies.
The study also contains a supplementary survey, analysing the impact of the coronavirus pandemic on trade digitisation.
Foreword, by:
Copyright © Trade Finance Global 2020. Please reference Trade Finance Global when citing this publication
Authors
Contents
- Foreword from Xiaozhun Yi, Deputy Director-General, World Trade Organization (WTO) and John W.H. Denton AO, Secretary General, International Chamber of Commerce (ICC)
- Author’s Introduction
- Overview
- Periodic Table of DLT Projects
- Standardization initiatives
- Covid Pandemic: Impact of DLT projects in trade
- Appendix of projects
Copyright © Trade Finance Global 2020. Please reference Trade Finance Global when citing this publication
No doubt, the world looks a little different today than it did at the end of 2019 when we first published the Periodic Table of DLT in Trade. A natural years’ worth of progression has been both accelerated and in some areas shunted by the forces of the Covid-19 pandemic, the widespread and long-lasting implications of which still remain unknown.
Nevertheless, with the unwavering arrow of time guiding our forward progression, we wanted to unveil a new and updated report on the landscape surrounding the use of Distributed Ledger Technology (DLT) in international trade. The following pages will reexamine the projects we introduced in the first edition, determine which have progressed and which have fallen off course. We will also be introducing several new initiatives that were not included in the previous edition. Overall, we have found that the industry has made steady progress towards trade digitalization, with the average project moving from a maturity of 2.3 out of 5, to 3.3.
It is important to note that this publication is merely a representation of the industry as we know it today. There are likely more projects that we are not aware of or do not have enough information on to include here. We invite anyone with knowledge on projects like these to reach out to us. We look forward to hearing about new and innovative solutions to the issues plaguing the industry.
As always, we would like to thank everyone who took the time to provide information in one form or another as well as those who play an active role in shaping the future of international trade digitalization.
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Assistant Editor and Lead Researcher
Carter Hoffman, Trade Finance Global
Carter is a Research Associate at Trade Finance Global focusing on the impact of emerging technologies on international trade. He holds international business and science degrees from Brock University in Canada and the European Business School in Germany. Carter’s work has been featured in publications and articles supported by the SME Finance Forum, managed by the International Finance Corporation, World Trade Organization, and International Chamber of Commerce.
Special Thanks To
- Alisa DiCaprio
- Waqas Mirza
Want to read our previous paper?
TFG / WTO / ICC’s publication “Blockchain & DLT in trade: A reality check” in November 2019 at the WTO Global Blockchain Forum is available here.
Industry Association Partners
Contributors
Pierre Sien, Euler Hermes (Clipeum Participant)
Mohua Banerjee, Finacle Blockchain solutions
Souleïma Baddi, KomGo SA
David Bischof, ICCWBO
Atul Khekade, TradeFinex Tech Ltd.
Ken Marke, B3i
Daniel Wilson, Maersk GTD
Lionel Louie, CargoSmart Limited
Horace Mak, eCOM Asia
Jacco de Jong, Bolero International
Gunnar Collin, EnigioTime
Whitman Knapp, GTBInsights LLC
Hans J. Huber, ICC DSI
Adi Weinstein, Wave
David McLoughlin, we.trade
Shona Tatchell, Halotrade
Dani Cotti, TradeIX
Mariana Gomez, ING
Marta Piekarska-Geater, Hyperledger
Emily Fisher, Hyperledger
Vivek Gupta, ANZ
Alisa Di Caprio, R3
Paul Smith, HSBC
Infographics, Charts & Diagrams
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