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World Traders Investigating “The Economic Impact Of Smart Ledgers On World Trade”

The Worshipful Company of World Traders, along with the Z/Yen and Long Finance’s Distributed Futures research programme, have commissioned a piece of research provisionally entitled, “The Economic Impact Of Smart Ledgers On World Trade”.

Smart Ledgers are the ‘next big thing’ in technology. They’re based on a combination of Mutual Distributed Ledgers (MDLs, aka blockchain: multi-organisational databases with a super audit trail, used since 2009 in cryptocurrencies) with embedded programming and sensing, thus permitting semi-intelligent, autonomous transactions. Smart Ledgers are touted as a technology for fair play in a globalised world. There are numerous projects building trade systems using this technology with announcements from governments, shipping firms, large IT firms, and the like. The research is intended to inform policy makers and business people making decisions about moving towards these systems.

The World Traders have commissioned Cebr (Centre for Economics and Business Research) to quantify the potential impact of MDL technology on international trade. This will be done through an econometric approach, which maps trade frictions that MDL technology might be able to offset, especially in the realm of non-tariff and bureaucratic barriers to trade. The Master World Trader, Professor Michael Mainelli, and Past Master, Professor Heather McLaughlin, are overseeing the project. The project has been kindly sponsored by the Cardano Foundation, whose mission is the “promotion of developments of new technologies and applications, especially in the fields of new open and decentralised software architectures”. Publication is expected in the first quarter of 2018.

To help contribute, please feel free to get in touch with Oliver Hogan (Chief Economist) or Cristian Niculescu-Marcu (Managing Economist) by contacting Cebr on +44 (0) 20 7324 2850 or via email

For further information:

About Cardano Foundation
Cardano Foundation is a blockchain and cryptocurrency organisation based in Zug, Switzerland. The Foundation is dedicated to act as an objective, supervisory and educational body for the Cardano Protocol and its associated ecosystem and serve the Cardano community by creating an environment where advocates can aggregate and collaborate.
The Foundation aims to influence and progress the emerging commercial and legislative landscape for blockchain technology and cryptocurrencies. Its strategy is to pro-actively approach government and regulatory bodies and to form strategic partnerships with businesses, enterprises and other open-source projects. The Foundation's core mission is to "standardise, protect and promote" the Cardano Protocol technology.

About Long Finance
"When would we know our financial system is working?” is the question underlying Long Finance’s goal to improve society’s understanding and use of finance over the long term. Long Finance aims to:
• expand frontiers - developing methodologies to solve financial system problems;
• change systems - provide evidence-based examples of how financing methods work and don’t work;
• deliver services - including conferences and training using collaborative tools;
• build communities - through meetings, networking and events.

About Distributed Futures
Smart ledgers are the confluence of distributed ledger (aka blockchain) technology with embedded computer code, cryptography, and consensus techniques for validating transactions. Smart ledgers offer the very real potential to organise cooperative forms of commerce using transactions less susceptible to central third party monopolies or cheating.
Distributed Futures is a significant part of the Long Finance research programme managed by Z/Yen Group. The programme includes a wide variety of activities ranging from developing new technologies, proofs-of-concept demonstrators and pilots, through research papers and commissioned reports, events, seminars, lectures and online fora.
Distributed Futures topics include mutual distributed ledgers, artificial intelligence, cyrptocurrencies, blockchains, FinTech, RegTech, and the internet-of-things. Distributed Futures has already published significantly on smart ledgers and completed two large pieces of research with the Cardano Foundation - “Responsibility Without Power? The Governance Of Mutual Distributed Ledgers (aka Blockchains)” in 2017, and “The Missing Links In The Chains? Mutual Distributed Ledger (aka blockchain) Standards” in 2016.
Smart ledgers can increase trust in third party digital relationships and trade transactions, at a time when these are increasingly threatened. Wider beneficiaries of the research include:
•Industry: The wide applicability of smart ledgers means that we intend to engage with a diverse range of industries including banking, insurance, trading, shipping, logistics, identity, law, accountancy, agriculture, forestry, fishing, music, advertising, mining, construction, manufacturing, transportation, utilities, the voluntary and public sectors.
•Entrepreneurs: Our research programme will be shared openly to speed learning and innovation.
•Regulators: Our research will contribute to thinking and consultations.
•Researchers: Our programme aims to become one of the core research hubs for smart ledgers.
•Financiers: Our network provides access to a ground-breaking new industrial sector for trade and investment.
•Governments: Our community should help governments shape policy for the common good

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Mercredi 10 Janvier 2018