Abstrakt
Blockchain can positively impact global trade in terms of supply chains, enhance compliance software, draft smarter contracts or expand access to trade financing. As the transaction costs of doing business are very high, it is argued that blockchain can help small and medium sized enterprises (SMEs).
Also less developed countries (LDCs) will benefit considerably because blockchain technologies do not rely on large infrastructure capacities, they are actually well suited for developing countries. Both SMEs and LDCs may thus thanks to this innovation participate more actively in trade in coming years.
On the other hand, there are enormous challenges ahead. People will have to learn how to use this technology.
For effective implementation of blockchain, they will must understand it and trust it. Another important dimension is regulatory framework which is currently missing.
This is also reason why the Government of the Czech Republic actively promote this topic at various specialised international organisations such as the UNIDROIT and the UNCITRAL.