Escalating trade wars are impacting cryptocurrency markets and creating new use cases for blockchain, according to Truebit executives. Following President Trump’s tariff announcements targeting imports, concerns about a potential global trade war persist. High tariffs could heighten the significance of blockchain technology in ensuring fair taxation, as the technology can prove the authenticity of product origins. Blockchain networks can enhance supply chain transparency with an immutable public ledger, potentially limiting fraud especially with the projected $2.4 trillion worth of imports affected by these tariffs. Truebit, a blockchain network focusing on trustless verification, is already collaborating with software vendors serving the U.S. government and exploring its application in global supply chains through a European Union-funded project. However, industry executives warn that trade wars might disrupt blockchain infrastructure, leading to regulatory fragmentation and user censorship as node operators and validators face new challenges due to aggressive trade policies.

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