IOTA in trade promises to change the global dynamics of the supply chain
by Editor SEO
In a new episode of Untangled, the IOTA Foundation podcast several key members of the gobal trade network and supply chain; explain how implementing a DLT is a big challenge for the industry.
Those involved in this debate recognize that IOTA and Tangle offer to the global dynamics of trade and supply chain.
On the other hand, participants in the debate agree that it is necessary to have a concise regulatory framework; that properly adapt to variations in the implementation of the IOTA Tangle.
From the Department of Economic Research of the World Trade Organization (WTC), Emmanuelle Ganne, says so.
Emmanuelle explains how DLT can reduce friction in trade. He adds that a DLT-based ecosystem can easily unite various sectors of the economy.
The expert also adds that it is necessary to have a legal framework; that properly recognizes these technologies in order to achieve this. She also says that a cultural and educational approach to these technologies is needed.
More work needs to be done to align processes (…). Many people have not realized the potential of blockchain technology.
Ganne also explains that the IOTA technology involved in commerce can be an important bridge; to connect with different areas of industry: therefore, the need arises to adjust regulations with the support of the state.
On the other hand, the Senior Technical Compliance and Facilitation Officer at the WCO, Pashupati Pandey; adds that in global trade there is a certain standard under some agreements; that have not been modified for a long time.
According to Pandey, e-commerce is seen as the solution; in this way, supply chain actors can exchange quality information in order to