The Chinese New Year isn’t just a celebration — it’s a major moment for global supply chains 🌏🚢 With factories and families celebrate, international shipping can slow dramatically.
Exportar desde los Estados Unidos
Exportar desde Estados Unidos ofrece acceso a mercados globales y grandes oportunidades de crecimiento. Sin embargo, el proceso también implica desafíos importantes que pueden afectar tanto a exportadores nuevos como experimentados. La falta de preparación puede generar retrasos, costos adicionales e incluso la pérdida de la carga.
Blockchains, International Trade, and Cryptocurrency
ZIM Has Just Issued the First Blockchain for Bills of Lading
ZIM, an Israeli Shipping Company, has successfully used a Block-chain software by Wave to add bills of lading for shipment. The containers went from China to Canada and Sparx Logistics. No issues arose at all from the use of the blockchain and no humans were needed to process any of the materials, only to verify correct usage.
So what are Block Chains? How do they affect International Trade? What does Cryptocurrency have to do with this?
What are Blockchains
A Chain is a connection between two entities (in this case computers.) The blocks are the bits of information that they transfer between each other. Together they form a blockchain. You can have a blockchain between your phone and your computer when you are transferring files between the two of them.
But there are mass expanses of blockchains that are the foundation of finances and cryptocurrencies on the market.
What is Cryptocurrency
With Blockchains, information is everything. The power of the blockchain can have precedence over everything. If you have 10 bits of the information set to pass through the blockchains network, they will acquire information as well and passed through a validated network.
Because of this, passing your information through a blockchain network generates security and value.
From this security and value comes a monetary value. The more people that invest in the blockchain, the more the blockchain can generate a currency that symbolizes the value of that blockchain.
In the case of Bitcoin, the oldest cryptocurrency that represents its blockchain, you are having a positive feedback loop of value for the blockchain. The blockchain is becoming more recognized because Bitcoin has a high value. Bitcoin has a high value because it is becoming more recognized.
Because of this, the value for Bitcoin is higher than any other currency in the world.
How do these two pertain to International Trade
Blockchains don’t have to represent a monetary value. They can instead simply form a unity of information between two computers autonomously.
What ZIM did was create a sustainable and reliable network that was able to handle the invoices, the bills of lading, and manage the manifests for the cargo as it went from China to Canada, all on its own without human input.
Not only is this an amazing development for international trade, but it also means that the blockchain used will go up in market value increasing it’s cryptocurrency worth if they decide to go that route.
A1WWL
A1WWL always pushed to be at the forefront of technology and innovation. If you have any questions about blockchain technology or how cryptocurrency will shape the future of our economic landscape, be sure to give us a call or send us an e-mail, we’d love to chat.
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