This technology has begun to redefine the rules of the Global Commerce game from the inside. A concrete example can be found in the food industry.
In the world’s ports, the containers are stacked on each other, the trucks are aligned in endless ranks and the documents – in paper or digitalized in half – travel from office office. It is a daily scene of international trade, marked by complexities, dead times and high costs. However, in recent years, something began to change silently but deeply.
It is not a new free trade agreement or a new block of integration, but a technology that, Although many times associated exclusively to cryptocurrencies, it is revolutionizing the way merchandise moves in the world: the blockchain.
Far from the noise of the financial markets, this technology has begun to redefine the rules of the global trade game from the inside. What were previously long and dark processes—As the traceability of an agricultural product, the validation of a certificate of origin or the monitoring of a maritime load – Today can be resolved in seconds. And most importantly: in a safe, immutable and verifiable way by all parties involved. This new transparency generates trust, reduces costs and speeds up operations that, for decades, were the Achilles heel of international trade.
A concrete example can be found in the food industry. Large supermarket chains, such as Walmart and Carrefour, have implemented this technology to promote the traceability of products and increase consumers’ confidence, knowing what field the product came, what day, under what climatic conditions, and with what health and environmental protocols. Thanks to this technology, this information can be recorded from the origin and accompany the product to the gondola, without the possibility of alteration. And it is not an isolated case: the blockchain is being applied in the pharmaceutical industry, agriculture, textile chain and electronics, among others.
The new provisions of the European Union linked to sustainability have also encouraged the use of this technology in several countries of the world. A FAO, ITC and UNECE project for example, draws Peru’s cotton from small agricultural producers from crop to the consumer with DNA and blockchain molecules. The program sought to demonstrate the use of sustainable practices in the textile chain and thus achieved improvements in efficiency, transparency, and access to green markets by these small farmers.
The strategic value of this technology is also evidenced in the face of geopolitical disruption scenarios. The current commercial war with the imposition of reciprocal tariffs between powers, exposed the vulnerability of global supply chains and the lack of reliable information about the origin and route of the products. In that context, the blockchain emerges as a tool that can provide greater predictability and documentary support, helping to overcome tariff barriers through verifiable certifications, facilitating the adaptation to more strict rules of origin and allowing a more resilient management of commercial risk.
There is also a revolution in progress: smart contracts. These digital agreements are automatically activated when certain conditions are met, which eliminates intermediaries, accelerates payments and reduces risks of breach. In contexts where credit is scarce and traditional guarantees are difficult to get, the blockchain can represent a new access door for companies that want to export or integrate to global value chains.
Of course, not everything is lights. Important challenges still persist, such as interoperability between platforms, the standardization of norms and the need for a regulatory framework that gives certainty to the actors. But even those obstacles are beginning to approach, through public-private initiatives and multilateral organisms such as ECLAC, UNCTAD or IDB that see in this technology a key tool to improve the competitiveness of countries.
Without rimbombant promises or grandiloquent headlines, this technology is weaving a transparency network that transforms the way we trade. And in times where trust is worth as much as the product, the blockchain seems to consolidate as a silent but decisive pillar of this new era.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
