Country: Global
Duration: 2021-2022
Themes: Expanding Access to Competitive and Contestable Markets, Promoting Technology Adoption to Raise Productivity
Cross Cutting Themes: Gender, Climate, Digital
Anticipated Impact Areas: Quality Jobs
The Challenge:
Enhancing the competitiveness of value chains to foster economic transformation and create more and better jobs requires correction of sector-specific and cross-cutting market challenges found along the value chains. Traditional public interventions and financing models do not sufficiently or adequately enable access to markets which limits contestability and competitiveness. The most recent evolution of the internet (Web3) has the potential to transform market power, overcome market distortions, redefine asset management, and disrupt institutions such as finance and banking.
The Mission:
The World Bank is implementing a global grant, funded by C-JET, to generate knowledge country clients and World Bank staff in operationalizing blockchain and tokenization of value chains, to pave the way for a better understanding of how Web3 can redefine Peer to Peer transactions and market power relations. The grant will also support the development of competition safeguards for blockchain value chain finance modeling, namely, removing regulatory barriers to use blockchains and fostering pro-competition regulatory framework. Through the implementation of these activities and more, this grant aims to support sustainable and inclusive job creation, enhance competition, and promote technology adoption for more resilient sustainable value chains post-COVID.