Blockchain and Hyper ledger technology could have a wide impact on international trade. The specific features of blockchain have the potential to enhance transparency, and have a capability to improve many processes related to international trade, from finance, to border procedures, and transportation and logistics. However, matching the nneds will require addressing various technical and regulatory challenges and creating a regulatory environment conducive to the deployment of the technology while mitigating the risk that may be occur .

Blockchain technology is forecast to be nearly $2.8 billion in 2019, an increase of 89.7% from the $1.6 billion spent in 2018, as per newly updated Worldwide Semiannual Blockchain Spending Guide from IDC. IDC forcasted blockchain spending to grow at a robust pace over the 2018-2022 forecast period with a five-year compound annual growth rate (CAGR) of 77.0% and total spending of $12.8 billion in 2022.

International payments and trade finance settlements are the two blockchain use cases that will receive the most investment ($458 million and $295 million, respectively) in 2019.The Fentech industry will be the largest investor in both use cases.The use cases that comprise the blockchain are improvising as the technologies enabling it.

Technology perspective, IT services and business services (combined) will accountable for nearly 75% of all blockchain spending in 2019 with information technology services receiving new investment over the coming days . Blockchain inabled platform software will be the largest segment of spending outside of the services and the second fastest growing category overall with a Six-year CAGR of 85.4%, following IT services with a CAGR of 85.9%.