Digitalization of global trade is a journey that to some extent has an inevitable destination. Like the introduction of the first machines into the textile industry in 19th century Britain, the shock of change, perhaps even the impact on labour may cause voices of dissent to be heard alongside the cheerleading for modernisation and scalable efficiencies.
One thing is certain, however, and that is the general direction of travel which will almost certainly “commoditise” further the commodities and other international trade sectors by introducing transparency, standardisation of contractual terms and demystification of the art of negotiating and executing at least some aspects of the international sale, movement and payment of goods and services.
