Blockchain Technology and Customs Procedures

Mihaela Gabriela Belu
JEL codes: 
F1 - Trade, M10 - General, O14 - Industrialization; Manufacturing and Service Industries; Choice of Technology.
The aim of the paper is to present the advantages of implementing blockchain technology in international commercial transactions, in general, and in carrying out customs clearance activities, in particular. If we refer to the customs clearance of goods, the use of blockchain has a number of advantages, such as: completion of customs clearance formalities in a much shorter time; customs risk management; real-time verification of goods – quantitative, qualitative, of their origin. Nowadays, global supply chains face many challenges posed by the health crisis. The implementation of new technologies, especially blockchain technology, facilitates the tracking of events and the investigation of possible incidents, the settlement of disputes, ensuring the integrity of the cargo, the trust of the parties involved in the process, digitization.
Full text PDF file: