Assesment of Blockchain-Based P2P (Pear to Pear) Transactions in International Trade with Swot Analysis

Abstract

Blockchain is known as a digitalized, decentralized online computer network on which a public ledger of all cryptocurrency transactions stored and it attempts to create and share all transactions that are verified by using a peer-to-peer (P2P) connected computer network. From the point of production to the truncating the international trade finance process or recording the customs procedures control, many companies are taking the advantages of blockchain technology day by day. The development of peer-to-peer payment systems make the crypto-currencies capable of dealing with not only the individual money transfers but also with the international trade activities. Expected result of this development is an increase the international trade volume in the short run. There are both threats and opportunities in terms of blockchain-based peer-to-peer commercial transactions. And also, some strengths and weaknesses due to the internal structure of the blockchain system. In this study, we are analyzing online peer-to-peer commercial activities via SWOT analysis from the perspective of institutions. It is expected that this study will enable to analyze the major factors of the peer-to-peer transactions in international trade facilities by applying "SWOT analysis". Even though there are a lot of research about blockchain in the local literature, institutional dimension in terms of the state-of-the-art cases of the adoption of blockchain in transport and logistics are studied scarcely in Turkey and hopefully will guide the academicians who want to work in this field.