Digital Trade Facilitation and Emerging Technologies Somnuk Keretho, PhD Director, Institute of IT Innovation Kasetsart University, Bangkok [email protected]Somnuk Keretho, PhD 1 ESCAP-ARTNET-ITD Trae Facilitation for Sustainable Development Workshop 2019 Bangkok, Thailand: 23 – 26 September 2019
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Digital Trade Facilitation and Emerging Technologies · Emerging Technologies Somnuk Keretho, PhD Director, Institute of IT Innovation ... PhD 2. Digital disruption is the change
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Digital Trade Facilitation and Emerging Technologies
Somnuk Keretho, PhDDirector, Institute of IT Innovation
ESCAP-ARTNET-ITD Trae Facilitation for Sustainable Development Workshop 2019
Bangkok, Thailand: 23 – 26 September 2019
Topics of Discussion
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Somnuk Keretho, PhD 2
Digital disruption is the change that occurs when new digital technologies and business models affect the value proposition of existing goods and services.
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Digital Disruption / Enabling Environment
• 4G/5G Internet
• Smart Mobile Penetration
• E-Banking
• Interbank Online Payment
Somnuk Keretho, PhD 4
• Social Media / Social App
• Digital Platform:B2B, B2C & C2C e-Commerce
2018
5สถาบันนวัตกรรมเทคโนโลยีสารสเนทศ ม.เกษตรศาสตร์
PromptPay
&
QR Code
Services
for
Interbank
Online
Payment
At any Fresh Markets around the country,MSME can receive payment online.
Thailand tops global digital rankings
Thailand ranks
• No.1 for mobile banking users
• 2nd for ownership for cryptocurrency
• 3rd in mobile commerce
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Global Digital Ranking Report 2019
FinTech
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Emerging Technology
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What is blockchain?Blockchain = a distributed “ledger” (records) of transactions
• Temper-proof/Immutable
• Decentralized control
• Highly resilient
9Somnuk Keretho, PhD
รายงานขององค์การการค้าโลก
พฤศจิกายน 2018
10
Blockchain has the potential to improve global trade significantly.
But the technology alone is not enough,
other challenges (e.g. collaboration, regulations) need to be managed!
A WTO Report (November 2018)
2018
A WEF Report (January 2018)
Blockchain could help increase the global trade
by 1.1 Trillion USD within 2026
Yes,Highly Likely !
Somnuk Keretho, PhD
Commercial
Financial Transport
Regulations
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Blockchain for Trade Finance could revolutionize global trade by increasing 1 trillion USD trade by 2026*
* A report during World Economic Forum 2018 (conducted by Bain & Company, and HSBC), from the base of US$ 16 trillions global trade.
2018
L/C Approval
80% faster
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As-Is vs To-be Model
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Blockchain for L/C Payment Settlement
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Bank (HSBC)
Importer(Cargill
Malaysia)
Bank (ING)
Exporter(Soybean, Argentina)electronic L/C &
electronic Bill of Lading (from Bolero network of
ocean carriers), but other regulatory documents
still in paper forms, e.g. C/O (potentially fraud)