There are currently competing ideas of how the logisitcs of goods flowing in and out of the UK after Brexit. Right now there are no customs checks on some borders with U.K. and the rest of EU countries. After Brexit that will change.
The U.K. seems certain that Brexit will be add bureaucracy red tape for companies and the government, but they are hoping blockchain technology should lighten the load.
The BBC has reported that solutions being floated around to solve this problem include using blockchain technology. The logistics of using blockchain technology nderpins cryptocurrencies to make the sharing of data about exports much easier, and employing artificial intelligence to decide where random checks on shipments crossing the borders should be targeted.
Even if there are no tariff barriers between the UK and the EU, companies will probably have to show where their goods have originated.
With the deadline for getting back control of the UK’s borders just 18 months away, blockchain and cryptocurrency technology ideas are not priorities for the export officals entrusted with this task.faced. The BBC reports that there are some significant challenges to deliver the system within the current timetable and gave it an amber risk rating.
But even with a blockchain system up and running with all exporters on board, that won’t be enough to create a frictionless border.