As the prospect of a trade war between the U.S. and the People’s Republic of China recedes, Professor James Cooper writes about how putting this on hold gives some breathing room for the rollout of the next paradigm-shifting technology breakthrough – blockchain.
In an op-ed for Cointime Prof. Cooper explains how blockchain technology will establish a universally transparent ledger so that the trade of goods and services can be facilitated without resorting to traditional intermediaries, like banks, currency traders, customs brokers, freight forwarders, global law firms, and web-based platforms.
Marketplaces and services will be dis-intermediated, writes Prof. Cooper, allowing purchasers and vendors to conduct business directly – a true peer-to-peer network.
According to Prof. Cooper blockchain technology will do what trade wars cannot: bring together the trading countries of the world and all the traders within it – big and small – to enjoy economies of scale and the benefits of comparative advantage.
Read the full article here: http://www.cointime.com/blockchain/10654.html