International policy coordination for blockchain supply chains

Darcy W.E. Allen, Chris Berg, Sinclair Davidson, Mikayla Novak and Jason Potts

Asia and the Pacific Policy Studies, 2019, vol. 6, issue 3, 367-380

Abstract: From the adoption of the shipping container to coordinated trade liberalization, reductions in trade costs have propelled modern globalization. In this paper, we analyse the application of blockchain to reduce the trade costs of producing and coordinating trusted information along supply chains. Consumers, producers, and governments increasingly demand information about the quality, characteristics, and provenance of traded goods. Partially due to the risks of error and fraud, this information is costly to produce and to maintain between dispersed parties. Recent efforts have sought to overcome these costs—such as paperless trade agendas—through the application of new technologies. Our focus is on how blockchain technology can form a new decentralized economic infrastructure for supply chains by governing decentralized dynamic ledgers of information about goods as they move. We outline the potential economic consequences of blockchain supply chains before examining policy. Effective adoption faces a range of policy challenges including regulatory recognition and interoperability across jurisdictions. We propose a high‐level policy forum in the Asia‐Pacific region to coordinate issues such as open standards and regulatory compatibility.

Date: 2019
References: Add references at CitEc
Citations: View citations in EconPapers (14)

Downloads: (external link)
https://doi.org/10.1002/app5.281

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:asiaps:v:6:y:2019:i:3:p:367-380

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=2050-2680

Access Statistics for this article

More articles in Asia and the Pacific Policy Studies from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().