Blockchain is the talk of the town. Buut what is it really?
A blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.
Blockchain technology is like the internet in that it has a built-in robustness.
One can say that it’s a chain of blocks each containing a transaction. The chain is open to all participants, who can see all transactions since the start – neither the chain nor the blocks can be changed. Blockchain thus provides the same value to all participants and this information is updated simultaneously in all places almost in real time.
The speed, low transaction cost and global capabilities are the strength of blockchain.
The key thing is that we so far primarily have seen applicatilns in the finacial sector, while the real value of blockchain technology is huge and applicable everywhere – especially in the global supply chain and global value chains of international trade. The work done by IBM and others in this sector is extremely interesting and I am convinced that it will crucial for the future of international trade, as the cpncrete for new trade super highways and trusted trade lanes.
For a long period of time people has used the lack of information security as the reason for not exchanging crucial nominal data. Now that excuse is gone.
At the same time blockchain has become a buzzword used by everybody all the time as the answer to all problems. We need to move away from that – since blockchain is way too important for the future to be limited as a miracle drug solving all challenges.
For those of you who want to learn more about blockchain but also about other new technologies and how they really can be used in our sector, read my colleague and friend Ziv Baidas articles on LinkedIn or on other platforms. One of the best writers on technology in our industry.
Another piece of advice arpund blockchain is that if you have any questions on how to use this new technology in your business – Governments or Private Sector – is to contact my old friend Norbert Kouwenhoven from IBM that works with this 24/7.
Zambian Government says it attaches great importance to consolidating trade and investment between Zambia and Sweden.
Zambia Ministry of Commerce Trade and Industry Permanent Secretary Kayula Siame said government remains committed to creating an open, transparent, stable and predictable business environment and investment climate.
The Permanent Secretary was speaking at the Swedish Southern Africa Chamber of Commerce (SSACC) business forum at the Swedish Embassy in Lusaka today.
And Ms Siame has urged Swedish companies to invest in Zambia and engage in partnerships with local firms because Zambia is the preferred investment destination.
She said government is already engaged in various developmental partnerships with the private sector through implementation of business reforms aimed at reducing the cost of doing business in Zambia.
Ms Siame cited online registration for starting a business, tax registration, and social security, national electronic single window for trade and e-commerce for trading across borders.
The Permanent Secretary noted that Zambia’s efforts of creating a conducive business environment has been recognized internationally following her ranking as the 9th best African Country in doing business.
She added that at the global level Zambia has been ranked 85 out of 190 economies on business reforms to facilitate access to capital for entrepreneurs’ to expand businesses.
She stated that government is willing to do more by pursuing and implementing business reforms in order to meet the expectations of investors.
Ms Siame praised the Swedish Embassy in Zambia for working tirelessly to enhance business relations and economic ties between Zambia and Sweden.
And speaking at the same event Swedish Ambassador to Zambia Henrik Cederin said that Sweden remains committed to strengthening developmental cooperation between the two countries.
Ambassador Cederin said the emergence of a new wave of Swedish companies is increasing business interests in Africa countries in order to foster regional economic growth.
You can follow Ambassador on twitter (@ HenrikCederin)
Meanwhile Zambia Chamber of Commerce and Industry (ZACCI) President Michael Nyirenda told the Swedish Investors to engage in partnerships with local Zambia companies in order to maximize benefits from the prevailing business and trade opportunities.
And President of the SSACC Asa Jarskog disclosed that her organization intends to sign a Memorandum of Understanding (MOU) with the Zambia Development Agency (ZDA) and Pangea Securities for possible facilitation in trade and securities.
The SSACC drew participation from Swedish companies, ZACCI, Zambia Development Agency (ZDA) and local captains of industry from various economic sectors in the country.
Source: Lusaka Times
Writing a report from excellent work meetings today. Great to be able to do it outside.
There are so many challenges right now and I am happy to be able to help.
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