Blockchain technology and international countertrade

IF 5.4 2区经济学 Q1 BUSINESS, FINANCE

Journal of International Financial Markets Institutions & Money Pub Date : 2023-12-31 DOI:10.1016/j.intfin.2023.101933

Fan Yang , Hai Yu , Craig Wilson , Gady Jacoby , Zhenyu Wu

引用次数: 0

Abstract

We illustrate the concept of using a Turing complete consortium blockchain (TCCB) to facilitate international countertrade. Physical goods and services would be linked to the blockchain by associating them with corresponding non-fungible tokens (NFTs). TCCBs could help small or new companies, particularly those in less developed countries, reduce the counterparty risk and transaction costs related to logistic chain management and contract arbitration. They could also supplement trade financing that often requires a mature banking system and developed financial market. We analyze the concept using a hypothetical example to illustrate the potential efficiencies over traditional countertrade transactions.

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区块链技术与国际对销贸易

我们说明了使用图灵完整联盟区块链（TCCB）促进国际对等贸易的概念。通过将实物商品和服务与相应的不可兑换代币（NFT）关联起来，将它们与区块链链接起来。TCCB 可以帮助小公司或新公司，特别是欠发达国家的公司，降低与物流链管理和合同仲裁相关的交易对手风险和交易成本。它们还可以补充通常需要成熟银行系统和发达金融市场的贸易融资。我们通过一个假设的例子来分析这一概念，以说明与传统的对销交易相比可能产生的效率。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of International Financial Markets Institutions & Money Multiple-

CiteScore

6.60

自引率

10.00%

发文量

142

期刊介绍： International trade, financing and investments, and the related cash and credit transactions, have grown at an extremely rapid pace in recent years. The international monetary system has continued to evolve to accommodate the need for foreign-currency denominated transactions and in the process has provided opportunities for its ongoing observation and study. The purpose of the Journal of International Financial Markets, Institutions & Money is to publish rigorous, original articles dealing with the international aspects of financial markets, institutions and money. Theoretical/conceptual and empirical papers providing meaningful insights into the subject areas will be considered. The following topic areas, although not exhaustive, are representative of the coverage in this Journal. • International financial markets • International securities markets • Foreign exchange markets • Eurocurrency markets • International syndications • Term structures of Eurocurrency rates • Determination of exchange rates • Information, speculation and parity • Forward rates and swaps • International payment mechanisms • International commercial banking; • International investment banking • Central bank intervention • International monetary systems • Balance of payments.