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Blockchain could solve part of Northern Ireland’s Brexit dispute

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Blockchain could solve part of Northern Ireland’s Brexit dispute

However, it opens the door for experts to develop and integrate blockchain technologies that could incentivize governments to adapt. block chain within their systems to make policy transitions and adaptations more seamless and less complex.

Subsequently, the UK government and the EU agreed to implement a special agreement or the Northern Ireland Protocol, which aims to balance the scales of its participation with the UK and the EU, as both sides agree there should be no ‘hard border’ between Ireland North and the EU, which respects the position of the Irish Government on the matter. The memorandum, which is currently the subject of deliberations for improvements, indicates that Northern Ireland’s position with the EU is more proactive and inclusive than the UK’s position with the EU. Either way, Northern Ireland recognizes both UK and EU characteristics as it follows trade agreements with the UK and remains within the EU’s single market for goods. EU and the Sanitary and Phytosanitary (SPS) system for animals and food products.

The Northern Ireland market was heavily integrated with the UK before the changes, but since Brexit and the implementation of a new protocol, it has disturbed and caused complications taxation, tariffs and regulatory compliance. Northern Ireland’s current hybrid system of adapting to UK and EU protocols makes it necessary to renegotiate and recast future changes to improve their current situation, which has been going nowhere lately. Nevertheless, analysts and industry experts have sought to integrate blockchain technology as a means of reducing most of the common issues between Northern Ireland and the UK, especially border issues. Blockchain is a type of distributed ledger that offers a digital database to track all supply chain transactions.

With hindsight, the questions that prevail between Northern Ireland and the United Kingdom relate to border issues and complex systems arising from post-Brexit protocols, in particular the transfer of goods or ensuring the integrity of goods crossing the border and vice versa. Fortunately, as with other prevalent problems in the past, technological breakthroughs offer solutions, and in this case, the adoption of blockchain technology could potentially help overcome the complexity of today’s problems and a simple system using this revolutionary technology will solve border-related problems with tracking goods in transit and help eliminate customs disputes for businesses. According to Alan Jones, a British businessman and CEO of messaging app YEO, “Through the use of blockchain, you have an irrefutable record of information at all stages, and through geofencing codes to unlock the seals to the destination depot, you could also be assured of the integrity of the goods in transit.The main objective of integrating blockchain technology in both parties will simplify the exchange, authentication and sealing of goods in transit and will allow its positions to be tracked at all times, combined with a much more practical documentation system.

So far, initiatives to have Northern Ireland and Britain integrate blockchain technology to address border issues are gaining momentum. In 2019, the ELAND consortium, a leading technology and solutions company led by its CEO, Charles Le Gallais, proposed the adoption of blockchain technologies in building a secure cargo transit system based on digitally locked containers, GPS routing records, automated certification and anti-tampering enforcement with every detail documented in a blockchain time series database. The proposal aims to enable the seamless movement of goods across borders by making it more convenient for practitioners and less unmanageable to resolve the current post-Brexit border issues between Northern Ireland and Great Britain. Blockchain technology, in an appropriate regulated environment, achievable by adopting smart regulations could provide the necessary solutions to solve the persistent border problem.

The initiatives launched by the experts go hand in hand with the EU’s vision to adopt blockchain technology within government systems. In 2018, twenty-two European countries signed a statement to share blockchain experience and expertise across Europe and launch EU-wide blockchain applications. Suppose Northern Ireland and Great Britain agree to incorporate blockchain. In this case, it will be possible to improve approaches to information exchange between many entities, such as customs and other regulatory agencies, and to reduce errors and fraudulent activities, which will change the current situation towards a much more efficient and transparent system.

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