The Role of Blockchain Technology in Transforming Global Trade and Supply Chain Management

Abstract

The technology behind blockchain has emerged as a transformative force in a number of sectors, and its potential to alter global trade and the management of supply chains is becoming more apparent. This study investigates the role that blockchain technology plays in transforming the traditional methods of global trade and supply chain management. It examines the key challenges faced by the industry, the benefits offered by blockchain, and the successful implementation of blockchain-based solutions. Additionally, it discusses potential future developments and the impact of blockchain on the future of global trade and supply chain management.