Application of Blockchain Technology in Streamlining Cross-Border Trade Within the AfCFTA and BRICS Trade Context

Abstract

The application of blockchain technology in streamlining cross border trade is quite pertinent within the African context, due to the underlying border delays and cumbersome documentation processes. This exploratory research focuses on examining, through case studies, how ten African nations have been applying blockchain technology in comparison to their BRICS counterpart. The study further examines the significance of blockchain technology in streamlining cross-border trade and rules of origin documentation within the context of the African Continental Free Trade Area (AfCFTA). The following nations, such as Egypt, Tunisia, South Africa, Botswana, Mauritius, Rwanda, Ethiopia, Kenya, Nigeria, and Ghana, were selected because they are actively participating in the African Continental Free Trade Area (AfCFTA)'s Guided Trade Initiative (GTI). The other aspect of this research examines the significance of the deployment of distributed ledger technology in BRICS. The significance of this study is to glean lessons from BRICS on the adoption of BCT. Critical realism is the philosophical underpinning of the research. This study applies the inductive approach, qualitative research design, and a case study research strategy. By examining existing case studies of blockchain applications in these selected African and BRICS nations, key lessons are learnt to enhance policy formulation. The result of this research is to enhance policy development on adoption of Block chain technology to build intra-African trade.