Block-chain promise and the challenges

 BT could well become the future of trade infrastructure and the biggest boost to the shipping industry and to international trade since invention of the container

Block-chain technology (BT) has the potential to transform international trade, says a recent publication from the World Trade Organization (WTO), authored by Emmanuelle Ganne. This is an interesting tool that opens  opportunities to enhance the efficiency of a number of trade processes — financing, customs clearance, certification, transportation, logistics, insurance, distribution, intellectual property (IP) and government procurement.

BT is a lot more than bitcoins or crypto-currencies. It is a digital platform for decentralised, distributed records or ledgers of transactions, in which these are stored in a permanent and nearly unalterable manner. It relies on a peer-to-peer network no single party can