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"Escrow Smart Contracts and Liquidity Risk in International Sea Trade"
joint work with Vincent Lehlé and Emy Lécuyer

Abstract : International transactions between a buyer and a seller often involve a lengthy, costly, and risky stage of maritime transportation. This particular type of trade is regulated by contracts known as Incoterms, which outline the roles and responsibilities of each party involved. In this paper, we demonstrate how these contract frameworks can be adapted to the smart contract environment. By utilizing automated contracts recorded on the blockchain, we can effectively monitor and mitigate various risks associated with this environment in a straightforward and adaptable manner. Our study presents a well-suited sequence of escrows that effectively minimize liquidity and transportation risks typically associated with these transactions. Moreover, this sequence can be easily implemented within a dedicated smart contract platform.