Future of Technology and Trade
The previous two blogs discussed the first two question of this research blog the first question was, what are the current limitations of global trade? The next question that was reviewed was, what technology is already is used in global trade? The final question, which will be discussed in this post is what can technology do to further streamline the global network of trade? Or in other words, what technology can global trading systems use in the future?
Future technologies
Technology has already come a long way and the future looks to develop that technology even further to accomplish a more efficient global network. The future of technology in trade will make the transportation of trade cleaner and the buying and selling of goods faster, and allow more communication.
How will this be accomplished?
A major advancement that would reduce cost and make transportation cleaner is electric vehicles. This concept would have huge benefits in the world of trade. It would allow for companies to spend less on fuel resulting in a savings since you wouldn’t have to buy gas. It would also result in businesses emitting less carbon pollution from its vehicles, which would offer a greener more environmental friendly mode of transportation.
To make buying and selling faster, this would be accomplished by having more secure connections between buyer and seller. Having websites made exclusively for these types of transactions. In addition to faster transactions between buyers and seller, there would also be an increase in communication because more people would be exchanging goods and services. As a result of the increase in communication there would be more ideas that get bounced around, and the more ideas that get exchanged the more people can put those ideas into action and create more advanced technology to improve the global trade network.
