How can blockchain technology be used in customs and trade?

This technology could equally be applied within the Customs and trade environments, where participants in a transaction need to exchange information. Use of the Blockchain enables the same copy of a ledger to be instantly available to all parties at different nodes in an updated, trusted, secure, and immutable manner.

What is a blockchain and how does it work?

The blockchain design that Bitcoin inspired has been adapted for other kinds of records. The underlying principle is there is no central authority controlling a single ledger. Everyone who is part of the system controls a decentralized and shared record.

Is a blockchain right for You?

As we’ll hear, blockchain has a lot of potential applications, in areas as diverse as supply-chain management, trade finance, insurance, and even cybersecurity. But there are a lot of misconceptions and often good reasons why a blockchain may not be the right tool for the job.

What is hybrid blockchain?

Sometimes, organizations will want the best of both worlds, and they'll use hybrid blockchain, a type of blockchain technology that combines elements of both private and public blockchain.