How is blockchain technology transforming trade?
Blockchain technology is revolutionizing trade by enhancing transparency, reducing fraud, and streamlining processes.
Can you explain how it improves transparency?
Sure! Blockchain provides a decentralized ledger that records all transactions, making them visible and immutable, which builds trust.
What are some real-world examples of blockchain in trade?
Companies like IBM and Maersk are using blockchain for supply chain management, improving efficiency and traceability.
Are there any challenges to implementing blockchain in trade?
Yes, challenges include regulatory issues, integration with existing systems, and the need for industry-wide standards.
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