Blockchain technology a boon for trade?

By Xu Yao | China Daily | Updated: 2019-10-31 07:12
[Shi Yu/China Daily]
The development of new technology has benefited trade and commerce, and blockchain technology seems set to improve the multinational trade system, especially customs operations. As different countries release their quarterly and annual data at different times, it is difficult to compare them simultaneously. But the application of blockchain technology will turn every country’s customs record into a «ledger» connected to those of other countries, and every shipment can be recorded and filed at the same time.
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