TradeTrust is a set of Governance & Legal Frameworks, Standards and future-ready Digital Infrastructure, all of which facilitates the interoperability of electronic trade documents exchanged between different digital ecosystems.
It uses Distributed Ledger Technology to provide proof of authenticity and provenance for these documents, addressing the inefficiencies of cross-border trade that are caused by manual handling and verification processes.
TradeTrust will start with electronic bill of lading (eBL) as a key document for digitalisation in maritime trade.
IMDA’s Trade Division hosted a fruitful 3-days workshop from 17-19 Sept 2019 for the delegates participating in the UN/CEFACT Cross border inter-ledger exchange for preferential CoO using Blockchain project group. IMDA is the Singapore Head of Delegation to UN/CEFACT and is currently championing the TradeTrust initiative, a global interoperability framework for the exchange of digital trade documentation.
tradetrust@imda.gov.sg