The Hanoitimes - The effects of blockchain would be largest in emerging markets and for small and medium-sized enterprises (SMEs), showing the use of the technology beyond large corporations and developed markets. Distributed ledger technologies (DLT) – of which blockchain is the best known form – could play a major role in reducing the worldwide trade finance gap, enabling trade that otherwise could not take place, a new study by the World Economic Forum and Bain & Company has found. Illustrative photo The global trade finance gap currently stands at US$1.5 trillion, or 10% of merchandise trade volume, and is set to grow to US$2.4 trillion by 2025, the Asian Development Bank calculates. But a new study shows that this gap could be reduced by US$1 trillion if DLT is used more broadly. The largest opportunities could come from smart contracts, single digital records for customs clearance. They would help mitigate credit risk, lower fees and remove barriers to … [Read more...] about Blockchain could enable US$1 trillion in trade: WEF
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Blockchain to promote trading identity of VN exports
Farmers tend to dragon fruit in Châu Thành District, Long An Province. — VNA/VNS Photo Trường GiangViet Nam News HCM CITY — Blockchain technology is expected to enhance agricultural exports by providing a global trading identity, speakers at a blockchain conference held in HCM City said yesterday. Lê Thu Hiền, programme manager for the Asia Foundation Office in Việt Nam, said: “The ‘Empowering Local Agricultural Producers with a Global Trading Identity’ project has established a blockchain-based identity and proof-of-provenance platform that will enhance Việt Nam’s brand, empower small- and medium-sized enterprises, and provide consumers with valuable information from the first mile to the last mile.” The technology being used is a result of this project, which is under sponsorship of the Australian Embassy to Việt Nam. Đào Đức Huấn, director of the Institute of … [Read more...] about Blockchain to promote trading identity of VN exports
Four out of five executives report blockchain initiatives underway
Robert Trong Tran, Cyber Security and Privacy leader at PwC Vietnam The new research from PwC—Blockchain is here. What’s your next move?—surveyed 600 executives in 15 countries and territories, on their development of blockchain and views on its potential. As blockchain rewires business and commerce, the research provides one of the clearest signals yet of organisations’ fear of being left behind as blockchain developments accelerate globally, opening up opportunities including reduced cost, greater speed, and more transparency and traceability. A quarter of executives report a blockchain implementation pilot in progress (10 per cent) or fully live (15 per cent). Almost a third (32 per cent) have projects in development and a fifth (20 per cent) are in research mode. The US (29 per cent), China (18 per cent), and Australia (7 per cent) are perceived as the most advanced currently in developing blockchain projects. However, within three to five years, … [Read more...] about Four out of five executives report blockchain initiatives underway
Local firms planning AI, blockchain applications
Local firms planning AI, blockchain applications The Saigon Times Daily Customers are seen at a transaction office of Eximbank. Local firms including banks are planning AI, blockchain applications – PHOTO: TL HANOI - The number of enterprises in Vietnam applying artificial intelligence (AI) and blockchain technology is small, but nearly a quarter of enterprises will apply similar technologies over the next three years, according to a report by Navigos Search. The report, released on August 28, indicated that the three new technologies widely used by enterprises are cloud computing, Big Data and automation. Emerging technologies such as AI and blockchain have also been used by enterprises, but they are not yet popular. Some 9% of the enterprises evaluated in the report noted that they have applied blockchain technology, and 19% of them have applied AI. Besides this, up to 66% of the respondents claimed that their businesses were interested in the new technologies of AI … [Read more...] about Local firms planning AI, blockchain applications
N. Korea to host int’l blockchain conference in October
The first-ever Korean International Blockchain Conference will be held for a two-day run starting Oct. 1 in the North Korean capital city, according to the report by Radio Free Asia (RFA). The event will bring experts in this cutting-edge field from around the world, the report said, adding that they will hold meetings with officials of the North's business entities on Oct. 3. North Korea appears to be aiming at showing off its capabilities regarding such technologies, a security expert told RFA on condition of anonymity. As a ledger system, blockchain makes quicker and more secure digital transactions. Made famous as the technology used by Bitcoin, the system is especially applicable to the banking and insurance industries, according to experts. By the Yonhap. Tags: blockchain crytocurrencies radio broadcast US N.Korea … [Read more...] about N. Korea to host int’l blockchain conference in October