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The World Economic Forum believes that blockchain can help the global economy – Blocksats

The World Economic Forum (WEF) believes that blockchain-based supply chain solutions can help restart the global economy.

World Economic Forum a blockchain

The World Economic Forum has published a report analyzing how implementing blockchain-based solutions can reduce the problem of inefficiency and broken supply chains. Of course, this is what we have seen at the level of the global economy since the outbreak of the coronavirus pandemic

The organization adds that new technology can “Accelerate economic recovery after [pandemii] COVID-19. “

The report, published on April 28, confirms that the resilience of private and public supply chains has been well tested during the coronavirus pandemic. Pharmaceutical and food supply chains have been relied on. It has been added that the efficiency of supply chains depends on transparency, which in turn suggests the use of distributed book technology (DLT).

Business tools

To help companies and governments implement blockchain-based supply chain solutions, the organization also launched “Redesigning Trust: Blockchain Deployment Toolkit”, which is to help in getting “Maximizing benefits and minimizing risks” associated with DLT.

The toolkit has been developed for over a year. 100 public and private entities from 50 countries contributed to the process – including Deloitte, Maersk and the World Bank.

“Implementation toolkit blockchaina is necessary to design solutions that work for many entities, including smaller players who may not have access to the resources required to unlock the value of blockchain technology. “

– Nadia Hewett from the WEF blockchain team said.

The toolkit has been tested in a variety of contexts – including Saudi Aramco, Hitachi and many small and medium-sized enterprises.

“We see acceleration of digitization at Maritime Singapore, which has improved the sector’s efficiency and effectiveness”

– she said the media Quah Ley Hoon, CEO of the Maritime and Port Authority of Singapore.

“Blockchain has great potential use in areas such as tracking goods and financing trade”

She added.

The United Arab Emirates are also approaching the deadline for the completion of the Emirates Blockchain 2021 strategy – an ambitious program whose goal is to migrate 50 percent. government transactions for platforms based on DLT technology.

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