Head of Global Trade and Supply Chain, IOTA Foundation

It’s a matter of Trust: Beyond paper-based trade 
In Africa share of global trade has dropped significantly, and intra-
continental trade remains below its potential. Non-tariff barriers,
exacerbated by bureaucracy, triple the average import tariff on the
continent. Only 14% of African trade occurs within the continent,
compared to 59% in Asia and 68% in Europe. The African Continental Free Trade Area (AfCFTA) combined with technology could greatly enhance African trade. Technology can address inefficiencies and barriers that impede cross-border commerce.
Blockchain and distributed ledger technology (DLT) simplify and secure trade transactions, reducing delays and costs.  This paper outlines the experiences by a consortium of partners who have joined to implement the Trade Logistics Information Pipeline (TLIP), to streamline trade processes and enhancing efficiency. Early trials indicate TLIP could cut some trade costs by up to 20%, improve data transparency, reduce fraud risks, and boost access to finance.