The Australian Border Force (ABF), Infocomm Media Development Authority of Singapore (IMDA) and Singapore Customs, along with other industry representations, have concluded a blockchain trial project analyzing the status of the countries’ digital verification systems in issuing and verifying trade documents. The collaborative venture was a part of the Australia–Singapore Digital Economy Agreement — an initiative designed to increase the efficiency of trade between the two countries, as well as to minimize economic friction in cross-border payments. The interoperability of the two digital verification systems — the ABF’s Intergovernmental Ledger and IMDA’s TradeTrust reference implementation — was analyzed to understand the possibility of creating “high integrity digital trade documents that can be instantly authenticated, provenance traced, and digitally processed.”
Australia and Singapore conclude digital verification blockchain pilot
2021-09-03 23:57:46 Primitive Reading
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