The International Chamber of Commerce (ICC) was set up after WWI, in 1923, to help make global trade more efficient. It has signed an agreement with a Singapore-based business Perlin to use its Blockchain expertise.

John Denton, the ICC’s current secretary general, before his appointment said. “We think this might be one which we can look back on in 100 years and say the ICC shifted blockchain in a way that enabled the private sector to function more effectively in a sustainable way and actually create more opportunities for people.”

Bold words about a technology with challenges of scalability and adoption? However, with multinational corporations like Coca Cola, McDonalds and Amazon as members of the, along with its 45 Million other companies in over 130 countries, the ICC has the global reach to raise Blockchain’s profile.

The ICC is thought to be looking to use Blockchain technology to help with cross-border transactions, traceability and transparency of goods, and to improve the efficiency of how supply chains function.