, 11 tweets, 4 min read Read on Twitter
One of the perks of being at @ITCnews is being able to take part in discussions like this: @wto Emmanuelle Ganne author of the new book on #blockchain and international trade. Made me think of how it is/could be implemented for customs. /1
So many successful initiatives and pilots in this space. With the latest one announced over the weekend by IBM - shipment of oranges with electronic bill of lading. /2
Cases where letters of credit were reduced from 5 days to 1 (with Voltron doing some interesting things here) /3
ledgerinsights.com/blockchain-let…
But customs seems to be lagging behind a bit. Even with Korean customs authorities announcing a project on this a while back. /4
The first blockchain certificate of origin (Singapore) while great initiative only really proves that the certificate was issued by the local Chamber. Not yet full automation of the origin process. /5
I could see this technology used to trace origin from A to Z eventually. Similar to what’s currently done in logistics (Walmart etc) /6
Blockchain ensures data doesn’t change as it moves between parties but is dependent on the quality of data entered. Bad data in-bad data out. This doesn’t change. So can speed up things but not fix existing issues and in customs data is a massive issue. /7
As blockchains don’t talk to each other in order to facilitate movement across a border either 1) everyone agrees to use the same one or 2) we make them talk to each other. We would also need to agree on data models to be entered. /8
This is very much the same as when thinking of implementing Single Window e.g. for a port. Interoperability of systems and data is a challenge for blockchain but also for customs in general. /9
The existence of permission blockchain solves the problem of sharing commercially sensitive data (eg. around pricing or sourcing) with everyone in an open version. So that should mean potential to use in customs with only appropriate authorities accessing data /10
@craigaatkinson @jwolpert @stwrtj any thoughts on blockchain and customs? Any new initiatives I'm missing?
(Emmanuelle's book below) /end
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