Blockchain to Create ‘a Sea of Opportunity’ for Global Trade



Arabian Gazette

  • Technology promises ‘a golden age of supply chain innovation and borderless trade’, blockchain expert tells WGS
  • Blockchain revolution will ultimately eliminate the need for centralized institutions, Bettina Warburg tells audience

Within the next five to 10 years, blockchain will fundamentally change the world economy as we know it. It will evolve age-old models of commerce and finance into a distributed, transparent and autonomous system for exchanging value, blockchain expert Bettina Warburg told delegates at a session titled ‘Tech, Blockchain and The Future of Trade’ at the seventh World Government Summit (WGS 2019) in Dubai.

Decentralized technologies like blockchain, AI and the Internet of Things (IoT) will ultimately eliminate the need for centralized institutions like banks or governments to facilitate trade, creating a ‘sea of opportunity’ for countries as trade is tied to distributed digital ledgers instead of traditional institutions, said Warburg.

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