Blockchain technology (BT) has become a techno-structural foundation that defines efficiency, transparency, and coordination within the global economy. This paper proposes an institutional and macroeconomic approach to the adoption of blockchain and it assumes that blockchain is a general-purpose technology that reduces transaction costs and enhances information asymmetry and increases trust in international trade, supply chains, government procurement, and financial intermediation. We combine the methods of structural dependency, constrained value-assignment, and efficiency-transmission models to find out the extent to which specific factors influence an outcome in a non-causal manner. The results indicate that the use of blockchains is structurally aligned with efficiency in coordination and the potential value-creation in institutionally complex trade. By promoting repeating and decision-based methodological architecture, our study will add to the body of knowledge a system-wide information to evaluate economic ramifications.
Keywords
Blockchain Technology, International Trade, Transaction Cost Economics, Supply Chain Efficiency, Public Procurement, Digital Infrastructure.
L. V. T. Duong, D. Van Hieu, P. H. Luan, T. T. Hong, and L. D. Khai, “Hardware Implementation For Fast Block Generator Of Litecoin Blockchain System,” 2021 International Symposium on Electrical and Electronics Engineering (ISEE), vol. 2, pp. 9–14, Apr. 2021, doi: 10.1109/isee51682.2021.9418691.
O. J. Kwok and H. Treiblmaier, “Blockchain technology as a driver of economic development in small economies: a dynamic capabilities framework,” Journal of Decision System, vol. 33, no. 3, pp. 413–438, May 2023, doi: 10.1080/12460125.2023.2214304.
Q. K. Nguyen, “Blockchain - A Financial Technology for Future Sustainable Development,” 2016 3rd International Conference on Green Technology and Sustainable Development (GTSD), Nov. 2016, doi: 10.1109/gtsd.2016.22.
R. Toorajipour, P. Oghazi, V. Sohrabpour, P. C. Patel, and R. Mostaghel, “Block by block: A blockchain-based peer-to-peer business transaction for international trade,” Technological Forecasting and Social Change, vol. 180, p. 121714, Apr. 2022, doi:10.1016/j.techfore.2022.121714.
Y. Yuan and F.-Y. Wang, “Blockchain and cryptocurrencies: model, techniques, and applications,” IEEE Transactions on Systems Man and Cybernetics Systems, vol. 48, no. 9, pp. 1421–1428, Jul. 2018, doi: 10.1109/tsmc.2018.2854904.
K. Becker, “Blockchain Matters—Lex Cryptographia and the Displacement of Legal Symbolics and Imaginaries,” Law And Critique, vol. 33, no. 2, pp. 113–130, Jan. 2022, doi: 10.1007/s10978-021-09317-8.
P. K. Ozili, “CBDC, Fintech and cryptocurrency for financial inclusion and financial stability,” Digital Policy Regulation and Governance, vol. 25, no. 1, pp. 40–57, Nov. 2022, doi: 10.1108/dprg-04-2022-0033.
J. Kembro and K. Selviaridis, “Exploring information sharing in the extended supply chain: an interdependence perspective,” Supply Chain Management an International Journal, vol. 20, no. 4, pp. 455–470, Jun. 2015, doi: 10.1108/scm-07-2014-0252.
K. Premazzi, S. Castaldo, M. Grosso, P. Raman, S. Brudvig, and C. F. Hofacker, “Customer Information Sharing with E-Vendors: The Roles of Incentives and Trust,” International Journal of Electronic Commerce, vol. 14, no. 3, pp. 63–91, Apr. 2010, doi: 10.2753/jec1086- 4415140304.
B. Lus and A. Muriel, “Measuring the impact of increased product substitution on pricing and capacity decisions under linear demand models,” Production and Operations Management, vol. 18, no. 1, pp. 95–113, Jan. 2009, doi: 10.1111/j.1937-5956.2009.01001.x.
N. S. S. Dzreke and N. S. E. Dzreke, “Evaluating the impact of public procurement reforms on Ghana’s economic development: An Analysis of Effectiveness and Growth Contribution,” World Journal of Advanced Engineering Technology and Sciences, vol. 16, no. 2, pp. 037–043, Aug. 2025, doi: 10.30574/wjaets.2025.16.2.1282.
S. Patrucco, D. Luzzini, and S. Ronchi, “Research perspectives on public procurement: Content analysis of 14 years of publications in the journal of public procurement,” Journal of Public Procurement, vol. 17, no. 2, pp. 229–269, Mar. 2017, doi: 10.1108/jopp-17-02-2017-b003.
S. A. Torabi, I. Shokr, S. Tofighi, and J. Heydari, “Integrated relief pre-positioning and procurement planning in humanitarian supply chains,” Transportation Research Part E Logistics and Transportation Review, vol. 113, pp. 123–146, Mar. 2018, doi: 10.1016/j.tre.2018.03.012.
M. A. Bergman and S. Lundberg, “Tender evaluation and supplier selection methods in public procurement,” Journal of Purchasing and Supply Management, vol. 19, no. 2, pp. 73–83, Mar. 2013, doi: 10.1016/j.pursup.2013.02.003.
T. L. Brown and M. Potoski, “Contract–Management capacity in municipal and county governments,” Public Administration Review, vol. 63, no. 2, pp. 153–164, Feb. 2003, doi: 10.1111/1540-6210.00276.
Hughes, E. Morrison, and K. N. Ruwanpura, “Public sector procurement and ethical trade: Governance and social responsibility in some hidden global supply chains,” Transactions of the Institute of British Geographers, vol. 44, no. 2, pp. 242–255, Oct. 2018, doi: 10.1111/tran.12274.
T. Clohessy and T. Acton, “Investigating the influence of organizational factors on blockchain adoption,” Industrial Management & Data Systems, vol. 119, no. 7, pp. 1457–1491, Jun. 2019, doi: 10.1108/imds-08-2018-0365.
B. Yang, Y. Sun, and S. Wang, “A novel two-stage approach for cryptocurrency analysis,” International Review of Financial Analysis, vol. 72, p. 101567, Sep. 2020, doi: 10.1016/j.irfa.2020.101567.
E. Bekkers, E. Corong, J. Métivier, and D. Orlov, “How will global trade patterns evolve in the long run?,” World Economy, vol. 47, no. 8, pp. 3578–3617, Jun. 2024, doi: 10.1111/twec.13575.
H. A. Meghla, Md. N. Alam, S. M. Rifat, and I. Masroor, “Sea of opportunities: unravelling the impact of cluster-based blue entrepreneurship and blue technology penetration on seaweed export propensity,” Environment Development and Sustainability, Sep. 2024, doi: 10.1007/s10668-024-05349-z.
CRediT Author Statement
The authors confirm contribution to the paper as follows:
Conceptualization: Natarajan K and John Atta Mills;
Methodology: John Atta Mills;
Data Curation: Natarajan K and John Atta Mills;
Writing- Original Draft Preparation: Natarajan K and John Atta Mills;
Visualization: Natarajan K;
Investigation: Natarajan K and John Atta Mills;
Supervision: John Atta Mills;
Validation: Natarajan K;
Writing- Reviewing and Editing: Natarajan K and John Atta Mills;
All authors reviewed the results and approved the final version of the manuscript.
Acknowledgements
Author(s) thanks to Dr. John Atta Mills for this research completion and support.
Funding
No funding was received to assist with the preparation of this manuscript.
Ethics declarations
Conflict of interest
The authors have no conflicts of interest to declare that are relevant to the content of this article.
Availability of data and materials
No data available for above study.
Author information
Contributions
All authors have equal contribution in the paper and all authors have read and agreed to the published version of the manuscript.
Corresponding author
Natarajan K
Department of Electrical and Electronics Engineering, Trinity College of Engineering and Technology, India.
Open Access This article is licensed under a Creative Commons Attribution NoDerivs is a more restrictive license. It allows you to redistribute the material commercially or non-commercially but the user cannot make any changes whatsoever to the original, i.e. no derivatives of the original work. To view a copy of this license, visit https://creativecommons.org/licenses/by-nc-nd/4.0/
Cite this article
Natarajan K and John Atta Mills, “Blockchain-Enabled Efficiency and Value Creation in International Commerce: A Macro Analytical Perspective”, Journal of Enterprise and Business Intelligence, vol.6, no.1, pp. 032-042, January 2026. doi: 10.53759/5181/JEBI202606004.
