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.