Expert Comments on the Role of Blockchain in Strengthening Cybersecurity and Efficiency in International Trade

A term that may still be unfamiliar to much of the public not fully immersed in technological innovations and their positive impacts on the corporate market. However, it doesn’t take much digging to understand the role of blockchain and how it strengthens both cybersecurity and operational efficiency in the bustling, dynamic international market.

The importance of reinforcing this relationship—one of blockchain’s core functions—becomes evident when analyzing recent figures from this fast-paced, high-volume transaction landscape. Both the number of transactions and the budgets allocated to cybersecurity have been on the rise globally in recent years.

A 2024 survey of global organizational leaders revealed that over 50% already considered cybersecurity investments a top priority. Nearly 4,000 representatives participated, and around 30% of those organizations reported annual revenues of $10 billion or more.

In response to the continuously growing numbers in international trade, blockchain investments also saw a significant leap in 2024. Another report indicated global growth exceeding 180%. This upward trend has been consistent since 2020, with expectations of record-breaking developments year after year.

“Blockchain can be understood as a massive virtual ledger, recorded and stored on computers across the globe. It’s a process that increases security and efficiency within these operations. Mainly because of this, it has become a widely adopted technological tool by companies of various financial sizes, explaining the current landscape and pointing to an even more promising future,” says Rajasekhar Reddy Talla.

One of his key areas of expertise is Supply Chain Management with Artificial Intelligence (AI)—a major player in this discussion. He also specializes in SAP GTS (Global Trade Services) Solution Architecture.

“Blockchain is built within highly secure databases. The sequence of information is shared and accessible to stakeholders in the process, yet immutable. So, while we talk about accessibility and usability, we’re also talking about security—and thus, greater credibility for the entire process. It doesn’t exist in a single location but rather in a network responsible for regulating these transactions,” he explains.

The system described by Rajasekhar is seen not only as secure but also cost-effective. The data verification process, performed by the system itself and assisted by AI, is further supported by so-called “miners,” who bring hardware and software expertise to validate the transactions.

This role is somewhat analogous to that of regulatory or oversight agencies in traditional banking systems. However, one of the key differences is the absence of physical intermediaries.

“Protection is mainly provided by the competition within this market today. Even so, that’s not all. There are elements even more directly tied to technological advancements. Encryption, for instance, is one such resource. Alongside it, digital signatures—known as hashes—are also employed. The details of these procedures become nearly impossible to alter, thanks to the way they’re securely stored within public digital databases, sequentially controlled and tied to each action by the responsible operator,” he adds.

More About the Expert’s Background

Rajasekhar Reddy Talla has over 20 years of experience in the Information Technology (IT) industry, specializing in Global Trade Services (GTS) and Supply Chain Management. His career spans eight years in India and Europe and over 12 years in the United States. He focuses on designing and implementing solutions in specialized areas such as:

• Compliance Management: Embargoes, Sanctioned Party Lists (SPL), and License Management
• Customs Management: Export, Import, Transit, and Bonded Warehousing
• Special Customs Scenarios: Inward Processing Relief (IPR), Excise Movement and Control System (EMCS)

He has dedicated much of his work to clients in the life sciences, pharmaceutical, agriculture, medical devices, software, and food processing industries.

Rajasekhar holds an MBA with dual specialization in Computer Science and Marketing from Jawaharlal Nehru Technological University (JNTU) in Hyderabad, India. He also has a bachelor’s degree in Mathematics, Economics, and Statistics from Sri Krishnadevaraya University in Andhra Pradesh.

This unique combination of mathematical, statistical, and business education enables him to effectively align SAP Global Trade Services and Supply Chain Management architecture with strategic business goals.

Over the past 20 years, he has led large-scale SAP implementations in the U.S., India, and European countries, working with some of the most respected organizations in the healthcare, life sciences, pharmaceutical, automotive, agriculture, and food processing industries.

“As a SAP GTS Solution Architect specializing in AI-driven automation, my work has significantly contributed to operational resilience and efficiency in pharmaceutical distribution and manufacturing, as well as in the food processing sector—both critical for public health and food security in the United States,” the expert notes.

A Promising Future

Blockchain may still be evolving, according to some experts, but its rise is undeniable and nearly unanimous in this analysis. Its trajectory is reminiscent of the internet’s early days—especially its global boom in the 1990s.

Before that, it’s worth noting that usage was quite restricted. Initially reserved for military applications, these tools were later shared with universities. Today, blockchain follows a similar path—mostly limited to organizations and advanced negotiation contexts—but the expectation is that this form of “virtual contracting” still has much to offer everyone.

“There’s no doubt there are many challenges. And they need to be addressed—as they are being addressed—by all professionals dedicated to enhancing and expanding this technology with even more credibility. Greater success lies in the not-so-distant future, and many will come to understand that trust no longer needs intermediaries,” he concludes.