1,000 Foot View on Blockchain Technology: INCOTERMS

Enter in smart contracts. Enter in terms of sale. Enter in Letters of Credit and enter in INCOTERMS.

Across several sectors, be it air, ocean, trucking, rail, customs, legal, financial and currency exchange, insurance, on down to Ecommerce and warehousing, the time has come to single out exactly how blockchain technology will solve problems and streamline, render effeicient, profit, and enter in competition, be it fair trade or all the trade in the world.

The terms of sale are negotiable and the paperwork shuffle will meet efficiency and that will go across all sectors. But from a digital currency standpoint, there is not question that fiat currency can compete with cryptocurrency when entered into the blockchain with the terms of sale of all things commerce under the sun.

The smart contracts will be the terms of sale and Incoterms and the Incoterms will be the smart contracts and terms of sale. The efficiencies will be seen across the blockchain and across sectors. That’s trillions of dollars in commerce annually.

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