Foreign trade with blockchain technology

Blockchain technology, recognized as the most significant innovation following the rapid advancement of digitization and garnering considerable interest, presents key attributes such as the utilization of cryptocurrencies, decentralized systems, and transparency and security features. Primarily, this technology is the focus of research and projects within the realms of banking, finance, and international trade. These include endeavors related to cross-border payment transactions, smart contracts, insurance, supply chain management, logistics, and the digitization of documents. The objective of this study pertains to examining how blockchain technology facilitates conveniences within the field of international trade. Its characteristics, such as transparency and reliability, play a pivotal role in establishing trust among participants. Additionally, research and projects are directed exploring applications in cross-border payment transactions, smart contracts, insurance practices, supply chain management, logistics, and the digitization of documents within the context of banking, finance, and international trade. The purpose of this study is to delve into how blockchain technology brings about facilitations in the domain of international trade.