Blockchain for trade facilitation: Ethereum, eWTP, COs and regulatory issues

Leonardo Macedo

Blockchain for trade facilitation: Ethereum, eWTP, COs and regulatory issues

Leonardo Macedo^*

^*Corresponding author for this work

International and European Law

Research output: Contribution to journal › Article › Academic › peer-review

Abstract

Blockchain is a peer-to-peer (P2P) technology that records and verifies transactions in a decentralised, cryptography-secure manner. Blockchain applications can globally manage records of any sort, such as import-export declarations, invoices, bills of lading (BLs) and certificates of origin (COs). It is a promising technology for several areas, including international trade. This paper presents blockchain, comments on blockchain platforms such as Ethereum, gives examples of private sector initiatives, shares an idea for a CO blockchain application, and discusses regulatory issues. In doing so, the paper aims to attract attention for blockchain in international trade.

Original language	English
Pages (from-to)	87-94
Number of pages	8
Journal	World Customs Journal
Volume	12
Issue number	2
Publication status	Published - 1 Sept 2018

Cite this

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title = "Blockchain for trade facilitation: Ethereum, eWTP, COs and regulatory issues",

abstract = "Blockchain is a peer-to-peer (P2P) technology that records and verifies transactions in a decentralised, cryptography-secure manner. Blockchain applications can globally manage records of any sort, such as import-export declarations, invoices, bills of lading (BLs) and certificates of origin (COs). It is a promising technology for several areas, including international trade. This paper presents blockchain, comments on blockchain platforms such as Ethereum, gives examples of private sector initiatives, shares an idea for a CO blockchain application, and discusses regulatory issues. In doing so, the paper aims to attract attention for blockchain in international trade.",

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AB - Blockchain is a peer-to-peer (P2P) technology that records and verifies transactions in a decentralised, cryptography-secure manner. Blockchain applications can globally manage records of any sort, such as import-export declarations, invoices, bills of lading (BLs) and certificates of origin (COs). It is a promising technology for several areas, including international trade. This paper presents blockchain, comments on blockchain platforms such as Ethereum, gives examples of private sector initiatives, shares an idea for a CO blockchain application, and discusses regulatory issues. In doing so, the paper aims to attract attention for blockchain in international trade.

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