More than one trillion dollars by 2028
More than one trillion dollars: that is what economists believe the use of distributed ledger technology and other innovative blockchain solutions could add to world trade by 2028. This amount could easily cover the entire existing trade financing deficit. You may be asking: what is the basis for such an optimistic forecast? It is simple: it is based on the advantages inherent in blockchain such as (to name just a few) lower expenditures, costs, and commission fees; the streamlining of all accompanying procedures, including transaction-related procedures; ease of use; and elimination of a huge number of bureaucratic barriers and intermediaries. It was great to see this topic raised in an expert report at the World Economic Forum, an annual gathering that brings together leading global business figures and political leaders. The more often the powers that be receive direct signals regarding the need for the quickest possible acceptance and regulation of the crypto industry, the faster we will gain a technology that can truly erase the boundaries between countries and simplify the lives of millions of people. Remind those at Davos of this again in January 2019.