Distributed ledger technology (DLT) has the potential to simplify and streamline global trade. Replacing paper-based processes with blockchain-based platforms increases transparency and trust, while reducing processing time and costs. Even though the idea is slowly moving out of the theoretical and into actual application, much remains unknown and unexplored about this new technology. This session will therefore address DLT’s potential pitfalls and its way forward based on pilot projects taking place on the African continent.
Questions that will be touched upon during the session include, but are not limited to the following:
- Given the vast and complex nature of Global Value Chains how can such a radical redesign be feasibly implemented and what are the technical and legal barriers that remain unsolved?
- Who owns the data and reaps its profits, global commerce or Africa’s SMEs?
- How can African countries effectively participate and what kind of regulatory framework is needed to enable participation?
- Will the technology contribute to lifting the world’s poorest out of poverty?
Distinguished panelists -experts in the field of blockchain’s application in global value chains- will reflect upon these matters and share their experiences. Join us for a fruitful discussion!