Smart and Intelligent Trade Corridors Enabled by Blockchain and Big Data Analytics

Abstract

This chapter discusses smart and intelligent trade corridors made possible by blockchain and big data analytics, with an emphasis on analytical and quantitative methods of custom and trade facilitation. It discusses the role of the distributed ledger technologies and the data analytics in ensuring the security of the data exchange, traceability, and performance monitoring across cross-border trade corridors. The chapter presents analytical models of risk scoring, trade coralling, and optimization of trade flow, explaining it with models and examples. Interoperability, data quality and system scalability issues are considered. The discussion shows that data-driven corridor intelligence is able to enhance operational efficiency, minimize compliance costs, and increase resilience on the regional/international trade networks.