Abstract:
Blockchain technology has expanded beyond its original use in crypto currency and has been
adopted in various industries of international business. This research paper aims to explore the
transformative impact of blockchain on global governance within the dynamic landscape of
international business. The disruption of traditional business practices by blockchain technology also
impacts the global governance of these activities. The analysis of multiple blockchain applications in
international finance, banking and insurance, supply chain management and logistics, and marketing
and advertising suggests that the implementation of blockchain in international business has distinct
effects on global governance. Although the protection of property rights and reduction of transaction
costs are potential benefits, the implications for other aspects of global governance are more
uncertain. To address these challenges, suggestions for the future regulation of blockchain
applications in international business are provided. Additionally, the paper analyzes the specific
ways in which blockchaincan enhance transparency, accountability, efficiency, and security in global
governance systems. The paper concludes by discussing the potential implications of blockchain's
adoption on international business operations and global governance frameworks.Further it is
recommended that future studies incorporate a multidisciplinary and empirical approach.
