Blockchain to Contribute $1 Trillion to World Trade by 2028, WEF Says

The World Economic Forum said in its new report last Thursday that distributed ledger technology (DLT) can potentially add as much as $1 trillion to global trade within the next ten years.

In ‘Trade Tech – A New Age for Trade and Supply Chain Finance’, which was published with Bain & Company, it was said that around 30% or $1.1 trillion of new trade volume will be realized because of DLT, and approximately 40% or $0.9 trillion will upgrade to DLT which will improve service levels and lower fees.

The WEF also says that embracing the technology, such as blockchain, will be inevitable even for governments that are refusing to adopt it.

Source: Coin Telegraph

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