How AI-enabled Blockchain Technology Facilitates U.S. Sanctions on Foreign Businesses

Title How AI-enabled Blockchain Technology Facilitates U.S. Sanctions on Foreign Businesses: An Analysis Based on International Regulatory Harmonization
Author Alvin Hoi-Chun Hung
Affiliation Australian National University
Region/Country Australia
Pages 151-182
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Permalink https://www.ijlet.org/4.4.5
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Keywords Blockchain Technology; U.S. Sanctions; Global Supply Chain; International Regulatory Harmonization
Abstract This article investigates the critical role of blockchain technology in promoting the integration of international regulatory harmonization within American global supply chains to facilitate U.S. sanctions on foreign businesses. While the convergence of artificial intelligence (AI) and blockchain offers a transformative path toward enhanced transparency, efficiency, and security in supply chain management, its adoption is hampered by intricate legal landscapes and inconsistencies in international regulations. This analysis dissects the key legal roadblocks, including data privacy concerns, jurisdictional conflicts, and ensuring compliance with diverse international standards. More importantly, it explores the opportunities presented by establishing a harmonized regulatory framework. Such a framework would enable the seamless integration of artificial intelligence (AI) and blockchain technologies across global supply chains. By addressing these legal hurdles and capitalizing on the opportunities for international regulatory harmonization, this article explores how blockchain technology can catalyze achieving this objective. Specifically, it examines how blockchain can foster transparency, streamline compliance processes, and mitigate the challenges associated with imposing sanctions on foreign businesses, particularly those from China.