Can Blockchain revolutionize international trade?

The publication introduces the technology with a basic explanation of how, as a tamper-proof, decentralized record of transactions, it allows participants to collaborate and build trust with each other.  It describes different classifications of Blockchains and their current and possible applications in the various areas covered by WTO rules. In doing so, it provides an insight into the extent to which this technology could help with trade facilitation, including how it can hasten the transition to paperless trade transactions. It considers Blockchain's potential and limits in transforming services by looking at payment systems, insurance and the automation of contracts. The publication also discusses how Blockchain could help ease the administration of intellectual property rights and enhance government procurement processes.