LBEF RESEARCH JOURNAL OF SCIENCE, TECHNOLOGY AND MANAGEMENT

Author(s):Jagadish K.C., Mr Suman Bhattacharya

Abstract:This thesis investigates in-depth into the potential applications of block chain technology in Nepal’s international trade sector, conducting an extensive survey involving 272 respondents from various stakeholder groups in Kathmandu Valley. The study aims to identify obstacles and opportunities associated with Nepal’s adoption of block chain in international trade. Demographic analysis reveals a predominantly male workforce with a significant presence from non-technical backgrounds, mirroring Nepal’s current employment landscape. Survey findings highlight significant challenges in current trade procedures, including trust and security issues, high transaction costs, regulatory obstacles, and complex supply chains. Block chain is recognized as a transformative solution offering transparency, security, efficiency, cost reduction, and regulatory compliance benefits. However, successful implementation hinges on factors such as regulatory support, technological infrastructure, stakeholder awareness, and trader readiness. Recommendations include tailored regulatory policies, infrastructure investments, stakeholder education campaigns, pilot initiatives, and ongoing evaluation. Overcoming these challenges could unlock unprecedented opportunities for Nepal’s international trade expansion, innovation, and collaboration.

Keywords:Block-Chain Technology, International Trade, Challenges, Opportunities, Feasibility, Regulatory Frameworks, Technological Infrastructure, Stakeholder Awareness, Supply Chain Optimization, Risk Mitigation, Compliance, Pilot Initiatives, Smart Contract, Hyperledger Fabric