Trade wars push blockchain into supply chain solutions

Escalating global trade wars, driven by U.S. tariffs and retaliatory measures, are creating new opportunities for blockchain technology in supply chain management, according to Truebit executives.

On April 2, President Donald Trump announced sweeping tariffs on imports, prompting concerns about transparency and fairness in global trade practices.

Truebit’s Chief Technology Officer Federico Kattan highlighted blockchain’s potential to verify product origins and ensure accurate tariff applications.

“Blockchain can help establish where the product actually came from,” Kattan explained, emphasising its ability to record transactions on an immutable ledger.

This capability could prevent fraud and misrepresentation in supply chains impacted by high tariffs.

Trump’s proposed tariffs could affect $2.4 trillion worth of imports, according to the Tax Foundation.

The economic ripple effects have already triggered market volatility, with Bitcoin and Ethereum experiencing significant price declines amid investor uncertainty.

Truebit, a blockchain network specialising in trustless verification, is exploring collaborations with software vendors that interface with government systems.

“We’re not yet talking directly to governments but to the software vendors trying to interface with them—because that’s where we want to be,” said Truebit CEO Jason Teutsch.

The company is also engaged in a European Union-funded project examining Web3 applications for global supply chains.

These initiatives aim to address challenges posed by fragmented regulatory regimes and potential disruptions to blockchain infrastructure during trade conflicts.

Despite blockchain’s promise, industry experts warn that escalating tariffs could create obstacles for node operators and validators.

Nicholas Roberts-Huntley, CEO of Concrete & Glow Finance, cautioned that trade wars might lead to censorship or reduced accessibility for blockchain networks.