Business Solution Provider

Benefits

Increase IT Capability & Business Efficiency

Enhance your IT system with TradeTrust's capability by making Verifiable Documents (VDs) and Electronic Transferable Records (ETRs*) portable and effective across systems for overall efficiency

New Business Opportunities

Improve service offerings through the development of innovative digital products and services using TradeTrust's open-source code, such as digital art, issuance of certificates and so on

How TradeTrust can help in Technology Services

TradeTrust is not a platform. It does not compete with existing platforms but serves as a complementary digital utility to assist platforms in achieving scalability of their products.

TradeTrust provides a solution to the current lack of technical interoperability in the market by enabling any party to digitise any document and issue its own TradeTrust-enabled ETRs outside of the confines of any contract-based platform.

It functions as a middleware (an adaptor) which can be plugged into existing platforms. This ensures authenticity, verifies the source, and validates the legal transfer of trade obligations at the application layer, regardless of how a party receives a document or at which stage of the supply chain a party receives it.

1. Interoperability
   Partner with anyone, regardless of technology capability, to drive efficiency and lower cost of business.

   TradeTrust is system-, semantic/data format- and transmission agnostic.

   • System agnostic: Almost any system can integrate the TradeTrust software components to acquire the functionalities of TradeTrust.
   • Semantic/data format agnostic: You can freely choose from data format standards such as the Key Trade Documents and Data Elements (KTDDE) specifications by ICC Digital Standards Initiative (DSI) and/or BL data format standards from Digital Container Shipping Association(DCSA) and BIMCO and/or any data format agreed upon by you and your business partners.
   • Transmission agnostic: You can freely choose to use any existing transmission protocols like email, FTP etc. to transport the TradeTrust file from party to party.

2. Decentralised approach for scalability

   • Remove the need for expensive data exchange infrastructure to be put in place in between you and exchanging parties

   • Remove tight coupling and inter-dependencies between exchanging systems. This means exchanging parties like you and your trading partners can proceed to upgrade and make changes to the IT systems at your own pace according to your own priorities.

   • Remove the need for all parties (you and your trading community) to use one single platform as TradeTrust-enabled documents are portable across different TradeTrust-ready platforms.

3. Compliance to internationally recognised standards

   • UN/CEFACT

   • W3C verifiable credential (in progress)

   • UNESCAP

   • UNCITRAL Model Law on Electronic Transferable Records (MLETR). Learn more in the legality guide.

Whether you are from the IT department serving your internal end-users or a Business Service Provider (BSP), the set of TradeTrust software components are open-source and free to use, enabling easy integration into existing systems. Alternatively, outsource or subscribe to services provided by TradeTrust-ready partners.

Use Cases

TradeTrust-enabled BSPs utilise TradeTrust for new revenues and value-producing opportunities such as these commercial use cases:

• Issuance of certificates of authenticity for consumer goods

• Electronic documentation processing including purchase order, invoice, bill of lading, certificate of origin, health certificate, datalogger report, electronic bunker delivery note, packing list, delivery order and airway bill

• Creation of Non-Fungible Tokens (NFTs) for visual art items that can be shared, learned, traded and appreciated digitally

• FinTech platforms for trade financing

Kickstart the integration of TradeTrust with technical guides.