A Study on the Linkage between Smart Contracts and Digital Service Tax in International Trade Transactions

2020 ◽  
Vol 86 ◽  
pp. 75-100
Author(s):  
Joon-Soo YOO
Keyword(s):  
International Trade ◽  
Smart Contracts ◽  
Digital Service

scholarly journals Blockhain technologies using in international trade contractual relations

2020 ◽  
pp. 16-20
Author(s):  
Kseniia KOVTUNENKO ◽  
Oleksandr BUT-HUSAIM
Keyword(s):  
International Trade ◽  
Cash Flow ◽  
Document Management ◽  
Smart Contracts ◽  
Main Method ◽  
Letter Of Credit ◽  
Business Operations ◽  
Smart Contract ◽  
Logistics Services ◽  
Contractual Relations

The article shows the features of innovative technologies in the development of document management of international trade. Blockchain is defined as the most stable, transparent and secure system. It allows businesses to accelerate the workflow and business operations associated with signing a contract, making payments and transferring information about the supply of goods or services to logistics services. We suggest using a smart contract as the main technology that can improve the system of building contractual relations between the parties to international trade. The article identifies the main problems on the way to using technology, as well as the benefits of using smart contracts. The study shows the ways of implementing technology in a business. The smart contact technology allows you to simplify the process of using a letter of credit as the main method of payment in international trade, as well as monitor cash flow, the circulation of documents and goods.

Part II Trade Finance Technology, 10 Digitalisation of Shipping and Insurance Documents: Implications for Trade Finance

2021 ◽  
Author(s):  
Goldby Miriam
Keyword(s):  
Machine Learning ◽  
International Trade ◽  
Internet Of Things ◽  
New Technologies ◽  
Insurance Contract ◽  
The Internet ◽  
Smart Contracts ◽  
Trade Finance ◽  
Distributed Ledger ◽  
The Internet Of Things

The inefficiencies inherent in processing pieces of paper manually down a cross-border chain of sales have prompted the international trade community to attempt to replace bills of lading with digital alternatives. These efforts have been ongoing for thirty years, but the recent availability of new technologies, particularly distributed-ledger technology (‘DLT’), which can be used in combination with ‘smart contracts’, the internet of things (‘IoT’) and machine-learning, has given these efforts a new impetus. Digitalisation holds many promises, including the creation of a context wherein new and cheaper financing options may be developed that do not involve manual checking of large volumes of paper documents. However, doing away with the paper-based documents of title creates uncertainties in terms of the bank’s position as secured creditor. Similarly, while cargo insurance certificates have been issued over electronic platforms for many years now, their transfer by endorsement is still effected by printing the certificate out and endorsing the paper-based certificate. In order for the benefits of digitalisation to be reaped in full, cargo insurance certificates also need to be fully digitalised, which would in turn raise questions as to the bank’s position as assured under the insurance contract. This chapter will examine the options available for making the bank’s position more certain. These options include legislative intervention and the development of contractual frameworks governed by English law.

International Trade Revolution with Smart Contracts

2021 ◽  
pp. 169-184
Author(s):  
Matías Aránguiz ◽  
Andrea Margheri ◽  
Duoqi Xu ◽  
Bill Tran
Keyword(s):  
International Trade ◽  
Smart Contracts

China's blockchain network has strategic implications

2021 ◽  
Keyword(s):  
International Trade ◽  
Supply Chain ◽  
Smart Contracts ◽  
Belt And Road Initiative ◽  
The West ◽  
Content Type ◽  
Payments System ◽  
Belt And Road ◽  
Digital Payments ◽  
The Belt And Road

Significance The BSN's most immediate objective is to promote international trade by enabling smart contracts and supply chain tracing. It is often mentioned alongside other Chinese initiatives aimed at facilitating trade, most importantly the Belt and Road Initiative. Impacts The West will be suspicious of the BSN, and if it becomes widely adopted it could elicit some kind of pushback or attempts to counter it. The BSN could improve the competitiveness of Chinese manufacturers by cutting costs and improving quality and security. In conjunction with the Digital Yuan, the BSN will advance China's efforts to create a universal digital payments system.

scholarly journals Enabling trustworthy personal data protection in eHealth and well-being services through privacy-by-design

2020 ◽  
Vol 16 (5) ◽  
pp. 155014772091211 ◽  
Author(s):  
Tomás Robles ◽  
Borja Bordel ◽  
Ramón Alcarria ◽  
Diego Sánchez-de-Rivera
Keyword(s):  
Data Protection ◽  
User Satisfaction ◽  
Personal Information ◽  
Personal Data ◽  
Well Being ◽  
Smart Contracts ◽  
Privacy By Design ◽  
Digital Service ◽  
Personal Data Protection

Users are each day more aware of their privacy and data protection. Although this problem is transversal to every digital service, it is especially relevant when critical and personal information is managed, as in eHealth and well-being services. During the last years, many different innovative services in this area have been proposed. However, data management challenges are still in need of a solution. In general, data are directly sent to services but no trustworthy instruments to recover these data or remove them from services are available. In this scheme, services become the users’ data owners although users keep the rights to access, modify, and be forgotten. Nevertheless, the adequate implementation of these rights is not guaranteed, as services use the received data with commercial purposes. In order to address and solve this situation, we propose a new trustworthy personal data protection mechanism for well-being services, based on privacy-by-design technologies. This new mechanism is based on Blockchain networks and indirection functions and tokens. Blockchain networks execute transparent smart contracts, where users’ rights are codified, and store the users’ personal data which are never sent or given to external services. Besides, permissions and privacy restrictions designed by users to be applied to their data and services consuming them are also implemented in these smart contracts. Finally, an experimental validation is also described to evaluate the Quality of Experience (in terms of user satisfaction) and Quality of Service (in terms of processing delay) compared to traditional service provision solutions.

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