How new technology will power international trade
Despite recent advances, the international shipping industry has a long way to go in terms of fully leveraging the potential of new technologies. Innovation in this sector is crucial to helping the UK to overcome the technical challenges posed by Brexit, but also to its ambition of establishing itself as an open, forward-thinking international trading partner.
A friend of mine once described the shipping industry in London as “an old boys club for men in grey suits”. Whether you agree with it or not, this stereotype exists because the maritime industry is based on trust. What if you could transact with a complete stranger or unknown entity and be confident that you can trust them? What if there was a way to use technology to remove the need to trust? This is where blockchain enters the equation. Read More