The digitalization of our world is happening at a rapid pace. In the last few years there has been an avalanche of new technologies that could benefit businesses, such as; artificial intelligence, internet of things and blockchain. To explain blockchain in short one can say that it is a ledger that cannot be changed and the information that is stored on the ledger will be there forever, with the information being stored in a decentralized manner and everyone with the right permissions get access to the same data at the same time. The information networks that build our society today are largely central, big institutions keep information stored centrally in massive data centers. On the contrary, blockchain enables distribution of the information to a myriad of smaller data storages, providing security of the data in the decentralization. Blockchain and its implementation in trade finance and international payments is something that is explored in this thesis, as well as the barriers that impede a large-scale implementation of blockchain in the financial sector in Sweden.  Every year trade finance accounts for approximately 17 trillion USD worldwide, this is a process that is still paper intense and slow. The use case for blockchain has been realized within this sector as there are operating trade finance platforms based on blockchain or distributed ledger technology, but how does blockchain really improve this sector? During this degree project this has been one of the questions asked and the answer is clear, blockchain will bring efficiency and transparency to trade finance. International payments is also an area that has been researched during this project as it is right now a costly and slow process, the use case for blockchain or distributed ledger technology has been realized in this sector as well, but the implementation seems to be further away. The main reasons why international payments are seen as a use case for blockchain is the same as the aforementioned - efficiency and transparency.  Sweden has yet to see a large-scale implementation of blockchain, some of the barriers found are the challenges of collaboration and agreeing on governance, as well as doubts about the technology from the broad mass as it has yet to be proven efficient and reliable in a large-scale, long term setting. Additionally there are already functioning payment infrastructure in use in Sweden and the cost of implementing blockchain is thus far outweighing the benefits for implementing it.

The adoption of blockchain technology for cross-border payments is not an easy task.However this qualitative study further investigates the connotations associated with adoptionof blockchain in cross-border financial transactions within Swedish financial institutions suchas banks, fintech, and credit management service companies. To answer this question, weinterviewed six participants that work in a credit management company, an open bankingcompany, and a digital mortgage service company using semi-structured interviews. Datacollection was done using this method because the purpose of this research work is to identifypeople's insights and experiences based on their real-life experiences. Data were analyzedusing thematic analysis. Our results showed that the impact of adoption of blockchain incross-border payment transactions in terms of technical implementation challenges,customers' use cases and pilot programs, compliance and security enhancements, industrycollaboration and knowledge sharing, legacy systems integration and interoperability, and keydrivers beyond adoption. In addition, the study findings were compared with the determinantsand influence factors of the model through the lens of the DOI. The implications of this studycould used to help financial institutions' focus on blockchain adoption in cross-borderpayment transactions. As a whole, this study contributes to the idea that financial institutionsshould develop an accurate strategy, as well as guidelines that can assist them in leveragingblockchain technology for cross-border payments, enhancing their services, and fosteringsustainable growth in cross-border digital markets.

Au plus fort de la crise, le régime monétaire international se révèle être impuissantlorsqu’il s’agit de limiter la volatilité excessive des taux de change, l’ampleur desdéséquilibres des balances de paiements courants, le développement d'une spéculationeffrénée sur les marchés des changes et l’asymétrie entre pays en excédent et pays endéficit. Cette thèse, qui a eu le mérite d’ouvrir des pistes nouvelles dans lacompréhension des rapports complexes entre les déséquilibres mondiaux et le régimeactuel, a montré que ces déséquilibres sont intrinsèquement rattachés aux défaillances dela structure monétaire internationale. Pour interrompre cette dynamique qui détériore lesdéséquilibres mondiaux, nous proposons que le régime tende vers un système centraliséavec la création d’une monnaie internationale et d’une chambre de compensation. Cettethèse, qui réactualise le plan Keynes, inclut également des dispositions statutaires visant àajuster automatiquement les dettes extérieures aux capacités de paiement des pays. Bienque cette réforme soit une avancée, cette réflexion n’occulte pas les progrès qu’il reste àfaire pour résorber les déséquilibres extérieurs. Pour améliorer l’efficacité et la pérennitédu système des paiements internationaux, il est utile de renforcer la coopération desbanques centrales, notamment dans un contexte marqué par les crises d’endettementextérieur. Dans ce sens, cette thèse montre les opportunités qu’offre la constitution dezones monétaires régionales intégrées dans une union monétaire internationale / At the height of the crisis, the international monetary system is powerless to reduce theinstability of exchange rates, the imbalance of the current account of balance ofpayments, instability of exchange rates and the development of speculation in financialmarkets the and the asymmetry between net exporters countries and net deficits countries.This thesis, which had the merit of opening new tracks in order to understand thecomplex relationships between global imbalances and the actual system, showed thatthese global imbalances are intrinsically linked to the failures of the internationalmonetary structure. To stop the deterioration of global imbalances, we propose that thesystem turns towards an international system payment with the creation of aninternational currency and a clearing house. This thesis, which reactualizes the KeynesPlan, also includes statutory dispositions for automatically adjusting the external debt tothe capacities payment of countries. Although this reform is a step forward, we don’t hidethe progress that can be done to reduce external imbalances. To increase the efficiencyand sustainability of the international payments system, it is useful to boost thecooperation between central banks, particularly in a context marked by the external debtcrises. In this sense, this thesis shows the opportunities which offered the creation ofregional monetary zones which are integrated in a monetary union international