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All Journal Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan GEMA EKONOMI Prosiding Simposium Nasional Manajemen dan Bisnis
Ruslan, Zuhri
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Blockchain Letter of Credit: Apakah Sekarang Saatnya? Ruslan, Zuhri
Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan Vol. 5 No. 1 (2022): Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan
Publisher : Departement Of Accounting, Indonesian Cooperative Institute, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (468.407 KB) | DOI: 10.32670/fairvalue.v5i1.2189

Abstract

Blockchain Letter of Credit (LC) is cutting-edge technology in international trade. It opens many opportunities to eliminate the deficiencies of current LC aspects. The research aims to answer how blockchain technology disrupts the LC workflow and whether now is the best time to adopt the blockchain LC. This research employed a narrative review approach. The result revealed that out of 226 articles from ScienceDirect, IEEE Xplore, Springer Open, Emerald insight, Research Gate, and Google Scholar, 26 articles were found to be relevant to answer the research questions. Significant findings from the research are that blockchain LC and smart contracts disrupt the LC workflow to become more efficient, secure from fraud and alterations, lower cost, and provide better visibility. Another finding is that adopting the technology is relevant provided that the cost to adopt has become affordable and when many banks and companies have adopted the blockchain LC. The process of adoption should be gradual.
Blockchain Letter Of Credit: A Systematic Literature Review Ruslan, Zuhri
GEMA EKONOMI Vol 11 No 3 (2022): GEMA EKONOMI
Publisher : Fakultas Ekonomi Universitas Gresik

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55129/https://doi.org/10.55129/.v12i4.2927

Abstract

Letter of Credit, a vital international trade instrument, painfully relies on paper and exposes to fraud. Blockchain LC, smart contracts, and the Internet of Things may overcome the problem. The research aims to systematically analyse the literature to find how blockchain can disrupt the LC. The method conducted in this research is a Systematic Literature Review. The result of the research is that from 2069 papers, 12 papers were selected to answer the research questions. It was found that blockchain disrupts current LC practices by simplifying and automating the process. Blockchain also significantly reduces the processing time and provides better transaction security. However, it is to be noted that there are factors that impede the adoption of blockchain LC, out of which legal hurdle is the most crucial. It is necessary to have collective willingness from the user and a supportive legal environment so that International trade can benefit from the blockchain LC technology.
Blockchain Letter Of Credit: A Systematic Literature Review Ruslan, Zuhri
GEMA EKONOMI Vol 11 No 3 (2022): GEMA EKONOMI
Publisher : Fakultas Ekonomi Universitas Gresik

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55129/https://doi.org/10.55129/.v12i4.2927

Abstract

Letter of Credit, a vital international trade instrument, painfully relies on paper and exposes to fraud. Blockchain LC, smart contracts, and the Internet of Things may overcome the problem. The research aims to systematically analyse the literature to find how blockchain can disrupt the LC. The method conducted in this research is a Systematic Literature Review. The result of the research is that from 2069 papers, 12 papers were selected to answer the research questions. It was found that blockchain disrupts current LC practices by simplifying and automating the process. Blockchain also significantly reduces the processing time and provides better transaction security. However, it is to be noted that there are factors that impede the adoption of blockchain LC, out of which legal hurdle is the most crucial. It is necessary to have collective willingness from the user and a supportive legal environment so that International trade can benefit from the blockchain LC technology.
LETTER OF CREDIT: MANAJEMEN DISKREPANSI DALAM PERDAGANGAN INTERNASIONAL Ruslan, Zuhri
Prosiding Simposium Nasional Manajemen dan Bisnis Vol. 1 (2022): Simposium Nasional Manajemen dan Bisnis
Publisher : Universitas Nusantara PGRI Kediri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29407/s1yh8268

Abstract

Tujuan penelitian adalah untuk menginvestigasi beberapa kasus dimana eksportir tidak menerima pembayaran akibat diskrepansi meskipun telah berperkara di pengadilan. Penelitian ini menggunakan metode penelitian kualitatif doktrinal, dan menggunakan pendekatan konseptual serta pendekatan studi kasus. Sifat penelitian adalah deskripitf dan preskriptif. Metode pengambilan data adalah secondary data yang selanjutnya dianalisa menggunakan metode thematic content analysis. Hasil penelitian menunjukkan ketidakhati-hatian eksportir dalam mempersiapkan dokumen presentasi Letter of Credit dapat menyebabkan diskrepansi yang fatal dan dapat merugikan eksportir sendiri karena tidak menerima pembayaran dari bank. Manajemen hendaknya menaruh perhatian yang besar terhadap diskrepansi apabila menggunakan instrument Letter of Credit.
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