Here are 5 projects that are transforming commerce with blockchain

It's true that when you read the title, you say to yourself that bitcoin, in itself, is already transforming the economy. It's true, indeed. That said, bitcoin transforms the monetary economy more than the economy itself. Yes, yes, it's very close to make real distinctions, but still!

In this article, I will focus on large-scale projects that can literally change international trade, in many of its aspects.

Bitcoin is already transforming the global economy by abolishing bank accounts. We can go even further by solving the challenges linked to international trade.

Otherwise, where bitcoin has already transformed international trade, it is already because it is the first time in the world, since the history of humanity, where we have a true universal currency of exchange in outside of gold. Unlike gold, bitcoin has no physical border and therefore allows absolute exchange between people.

That alone is already a huge upheaval, you might say. You can now send bitcoins to a Vietnamese or Ivorian, even if you don't have convertible currencies. In the past, you had to first exchange your coins into dollars, then go to the bank, then validate your transfer, pay the fees and wait 5 days before your recipient receives the money. In short, it was an ordeal and we can only thank Satoshi for inventing bitcoin.

We will now focus on projects which could also disrupt international trade in the years to come.

I hope this will give you some ideas and inspiration 😉

kleros : Decentralized justice for international businesses

Even if international trade laws are increasingly powerful and encompassing, it is not yet a very homogeneous fabric. There are still many regulations that are unique to one state and are not valid in others. As laws vary from one country to another, it is not easy to navigate for businesses in particular.

In fact, for large companies, the problem is more easily resolved because they have the means to hire lawyers and lawyers specific to their fields for each country. But, what about small businesses? Nothing, they have to deal with special jurisdictions and very often, this prevents them from opening a subsidiary in a foreign country.

It is this problem of international jurisdiction that the Kleros project tackled. The company wants to decentralize the resolution of international disputes.

Of course, Kleros is not going to make the Supreme Court of Courts obsolete but it will help advance the debate and work on legal decentralization. For impartiality - which is the foundation of justice - several people will become jurors. Objectivity will thus be ensured, as will transparency.

Thus, with Kleros, we see the emergence of a standard international protocol which could be established according to which the partners undertake to respect before entering into a partnership. We then know everyone's commitments, which remains easier if a dispute arises between the parties.

Thus, users registered on the platform will be chosen by chance to be jurors in a dispute. Anonymity will then make it possible to fight against bribes and cases of corruption that are too often present in the justice system. With a decentralized protocol, it is impossible to pay a judge to obtain a favorable judgment.

There, it is ordinary individuals who will decide. This will allow more objective judgments because they will have no link with the parties in court.

Likewise, the jurors will then be rewarded with the Kleros token: Pinakion Crypto-actives (PNK). This makes paid work for everyone given the crazy number of lawsuits in international trade. Likewise; This will save money for companies who will no longer have to pay law firms.

Can you imagine the benefits of such a dispute resolution system? This means that companies could even open subsidiaries in difficult countries with great political instability. Indeed, these same companies would still be covered by the blockchain-based justice protocol. They will no longer depend on the arbitrary justice of countries.

Once again, we see how blockchain can penetrate all sectors, particularly the legal sector. We also see how blockchain can improve international commerce and exchanges.

Swarm : Facilitate fundraising for businesses

There are other projects similar to Swarm like Polymath and tokeny for example. Swarn is part of the Security Token.

Under U.S. investment laws, you must have an annual income of more than $200 or a net worth of more than $000 million to be considered an "accredited investor."

So, ultimately, the only people who can invest are people who are already rich. It is therefore a virtuous circle for the rich and a vicious circle for the poorest.

With a project like Swarm, we want to reverse this trend. Thanks to these projects, we can invest in different companies or startups without having a lot of capital. Likewise, a small startup can easily create its fundraising (the sale of its tokens) via the Swarm platform. The entire investor and startup ecosystem is then facilitated.

Even if today, this still remains a new idea, we can be sure that more and more startups will use such services.

Chain: improve the logistics of carriers and goods

While cryptocurrencies are already breaking down borders to international payments, there are still barriers to remove. There, as the name suggests, we are interested in international transport and cargo.

If you do not know this sector well, know that it is still very archaic and very difficult because it is cumbersome from an administrative point of view. Procedures haven't changed in decades and it was time to modernize this aging industry.

Legal transfer of ownership, customs clearance and actual receipt of cargo all rely on voluminous documents. This is time consuming and requires skilled and expensive employees. It also prevents international trade from happening easily.

You guessed it, right? Project Catanea attempts to eliminate all this bureaucracy by digitizing documents and providing a platform where suppliers, shippers and buyers can all interact and exchange value securely and transparently.

By lowering trade barriers, the price of imported materials will decrease, allowing for more efficient production by lowering costs and allowing the importation of goods that would normally be produced locally.

If the Catanea project moves forward, then the entire transport economy will be improved. It's even a whole business that will finally be lightened by these burdens. We can all truly benefit from the globalization of trade.

Stellars: facilitate international money transfers

Stellar is an extremely interesting cryptocurrency that has appreciated a lot in value. It is a cryptocurrency that is of interest to unbanked people around the world.

For the record, know that Stellar was born from a dispute within the members of Ripple. (I already told you about Ripple and given the methods to earn it).

Ripple is run by a for-profit company and is aimed at banks. While Stellars is run by a non-profit government. Already you see the major difference between the two cryptocurrencies.

The main objective of Ripple (XRP) is to facilitate business between banks and companies. We want to be able to easily send large sums without waiting or paying sky-high fees. Stellar is more focused on the needs of the unbanked (more than 2 billion unbanked citizens worldwide).

In fact, Stellars would be ideal in Africa for example because it could facilitate financial inclusion. This is also the market targeted by Stellars. With Stellars, you cannot mine the cryptocurrency, but it is the foundation that distributes it where the need is felt.

Digital payments in Africa have taken a big turn with mobile banking. We can point to M-Pesa in Kenya, making Kenya the world leader in digital payments before most people had even heard of Bitcoin. We also see why theAfrica would ultimately certainly be the best market for cryptocurrencies.

With the widespread adoption of fast and cheap international payments in Africa and around the world, the entire global economy will be improved. Likewise, theAfrica will finally be able to integrate into world trade.

Ever more interesting projects are emerging

Among the projects and companies listed below, some have targeted essential areas. That said, there are still many more blockchain opportunity to seize. 

There is no doubt that blockchain will revolutionize our daily lives just as the Internet did 20 years ago.

And do you have an idea for a blockchain project to develop?

How can we support these projects?

When you invest in a cryptocurrency, it is still essential to be in agreement with the philosophy and goal of the project. If you liked these projects or if others interest you, know that by purchasing tokens from these same projects, it is the best way to support these projects.

There are other projects like Forra for example or the project Particl who want to improve online sales thanks to blockchain.

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This is not financial advice. All investments involve risks. Always do DYER.