The use of blockchain technology in foreign trade operations: The case of CargoX

This study examines the use of blockchain technology in foreign trade operations, specifically through the CargoX platform, utilizing a qualitative research method. The research explores how blockchain technology is integrated into foreign trade processes, its advantages, and the challenges encountered in detail. The study is based on semi-structured interviews conducted with foreign trade representatives from 11 companies exporting to Egypt from various sectors. Participants shared their experiences with the mandatory integration of the CargoX platform into the Egyptian customs system, the impact on costs, their evaluations on data security, and the effects of the platform on their business processes. According to the participants, while the platform offers benefits in the digitalization process, it also highlights the challenges and additional costs that arise due to the simultaneous use of digital and physical documents. Furthermore, the potential of blockchain-based systems in terms of reliability and transparency is assessed. However, it is determined that more information dissemination and training processes are needed to increase the general acceptance of digital platforms and users' trust in the system. The findings of the study emphasize the significance of blockchain technology in international trade processes, providing recommendations for its broader integration and effectiveness enhancement.