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Title: Blockchain en el comercio internacional
Author: Riba Biazirova, Tomas
Tutor: Uribe Gil, Jorge Mario
Keywords: blockchain
smart contract
letter of credit
Issue Date: Jun-2022
Publisher: Universitat Oberta de Catalunya (UOC)
Abstract: Aiming to optimize currently popular payment methods in international trade, we propose several alternatives through the application of blockchain. We rely on a quantitative analysis based on the comparison between the actual costs of carrying out an operation through a letter of credit, documentary collection, payment in advance and open account, and the costs derived from the use of blockchain and smart contracts. We use data from 18 major financial institutions with international trade records to determine actual costs and analyze different blockchains to establish their efficiency. After proposing a series of solutions, creating a smart contract to optimize letters of credit and issuing it on a public blockchain, we confirmed our starting hypothesis about improvements in terms of costs, efficiency, shorter processing times and the reduction of intermediaries. We also document some challenges for the massive adoption of the blockchain technology in international trade such as the lack of regulation, the need to generate network effects, simplify the use of blockchain by establishing standards at the international level and the use of digital currencies issued by central banks (CBDC).
Language: Spanish
Appears in Collections:Trabajos finales de carrera, trabajos de investigación, etc.

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