American Journal of Advanced Multidisciplinary Research and Innovation

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Blockchain, Smart Contracts, and Digital Trust in Global Business Transactions

Author(s) David Mischoulon
Country United States
Abstract The rapid digitalisation of global commerce has increased the need for secure, transparent, efficient, and trustworthy mechanisms for conducting business transactions across geographical and institutional boundaries. Blockchain technology and smart contracts have emerged as important technological innovations capable of transforming how organisations establish trust, exchange information, execute agreements, and verify transactions. Blockchain provides a distributed and tamper-resistant record of transactions, while smart contracts enable predefined contractual conditions to be executed automatically through computer code. This study examines the role of blockchain and smart contracts in developing digital trust within global business transactions. A qualitative and conceptual research methodology based on secondary literature is employed to examine blockchain architecture, smart-contract functionality, transaction transparency, supply-chain applications, international trade, digital identity, and financial services. The analysis indicates that blockchain can reduce dependence on central intermediaries, improve traceability, strengthen transaction transparency, and facilitate cross-border coordination. Smart contracts can further automate contractual processes and reduce administrative delays. However, challenges involving scalability, interoperability, regulatory uncertainty, cybersecurity, privacy, legal enforceability, and governance continue to restrict widespread adoption. The study proposes an integrated digital-trust framework combining blockchain infrastructure, smart contracts, identity management, regulatory compliance, and human oversight. The study concludes that blockchain should not be regarded as a universal replacement for conventional institutions. Instead, its greatest value lies in creating verifiable digital records and programmable trust mechanisms that complement legal, organisational, and institutional frameworks.
Keywords : Blockchain, Smart Contracts, Digital Trust, Global Business, Distributed Ledger Technology, Cross-Border Transactions, Supply Chain, Digital Identity, Financial Technology, Business Automation.
Field Engineering
Published In Volume 4, Issue 4, July-August 2022
Published On 2022-08-21
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