The Australian Border Force (ABF) started a blockchain trial with Singapore Customs and the Singapore Infocomm Media Development Authority (IMDA) for the digitalization of cross-border trade processes. The tests will use both the ABF-developed Intergovernmental Ledger (IGL) and IMDA’a TradeTrust.While one of TradeTrust’s objectives is to enable interoperability, it wasn’t explicitly mentioned in the announcement.
ABF’s trial will initially test digital verification for electronic Certificates of Origin the blockchain platforms and gather feedback from participants on their experience, a document with information regarding the product’s destination and country of export. Typically customs departments rely on this to assess import duties. The trial’s outcomes will be shared in the National Blockchain Roadmap’s Discovery Report.
“In addition to our efforts internationally, this initiative will incorporate paperless trading and secure, digital exchange of trade information as part of the future architecture and design of an Australian Trade Single Window,” said Michael Outram, ABF Commissioner.
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