Blockchain Technology for Paperless Trade Facilitation in Maldives
Asian Development Bank · 2020
Process 4 A.4 Current Technology Architecture for Trade in Maldives 9 Part B Blockchain Technology for Import Trade Process 12 B.1 International Trade Requirements: Blockchain and Non-Blockchain 13 B.2 Blockchain versus Traditional Technologies 18 B.3 Description of Blockchain Use Cases 19 B.4 Blockchain as National Single Window Backbone 22 Part C Road Map for Blockchain Adoption in Maldives 25 C.1 Adoption Road Map 25 C.2 Blockchain Pilot 26 C.3 Pilot Value Proposition and Key Outcomes 28 Appendix Current Import Trade Process Diagrams 31 Glossary 40 Tables, Figures, and Box Tables 1 Key Pain Points in International Trade 2 Requirements for Maldives Trade Ecosystem Partners 3 Comparison between Traditional and Blockchain Technologies 4 Blockchain Use Cases 5 Blockchain Benefits Sharing Table The findings in this report are based on information gathered during workshops conducted in Malé from 25 March to 4 April 2019.Key stakeholders from Maldives customs, ports, and trading organizations were invited to face-to-face meetings and group workshops during the aforementioned period.During such discussions, bottlenecks in current trade processes and technology infrastructure were discussed, in detail.Based on current and future requirements of the country, the list of blockchain use cases were identified.The use cases were then evaluated on a set of qualitative and quantitative parameters to arrive at the most suitable use case for a pilot deployment.The pilot use case was selected to demonstrate the ability of blockchain technology to improve the overall import trade process at Maldives.Key performance indicators after successful implementation of the pilot would be digitization of trade documents, seamless payments among participants, and marked improvement in time to process trade requests. Kartik Burman, international consultant