Bain & Co estimates that blockchain can help to increase global trade by $1 trillion over the next ten years. The results were published in a white paper entitled “
Trade Tech – A New Age for Trade and Supply Chain Finance“. The World Economic Forum (WEF) commissioned Bain & Co to identify how Fourth Industrial Revolution technologies can help facilitate trade in the future.
Global trade is bogged down by a considerable amount of manual paperwork which is slow and expensive to process.
Bain & Co estimates that if it’s possible to reduce border administration and improve telecom/transport infrastructure, global GDP could rise by 5%. That would compare to a boost of just 0.7% if all global trade tariffs were removed. The consultants also published a
blockchain trade finance report a few months back.
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