How It Works

How It Works

You can secure any digital document to protect its authenticity and control the possession and actions like endorsement and revocation

There are broadly 2 types of trade documents that you can digitise:

1. Verifiable Documents

These are trade documents that are non-transferable, such as Certificates of Origin (CoO), Invoices, and certificates of quality/quantity.

2. Transferable Documents

These are documents of title where their ownerships are transferable from one party to another; for example Electronic Transferable Records (ETRs) such as electronic bills of lading and warehouse receipts that entitle the holder to claim the performance of an obligation or ownership.

These TradeTrust-enabled electronic documents are functional equivalents to their paper-based versions. They are saved as TradeTrust (.tt) files containing the data, which can be easily transmitted to stakeholders across the supply chain over your existing business/IT system via email, FTP, portal uploads/downloads, and legacy EDI systems etc. There are no restrictions on the use of data formats or standards. You can also save the documents in pdf format with a QR code.

TradeTrust leverages the strength of immutability and security of blockchains, Smart Contracts and Non-Fungible Tokens (NFTs) to:

  • Demonstrate provenance and integrity, essential for document legitimacy

  • Present title ownership and enable transfers from one party to the next, and ensure singularity, meaning the unique original copy of the electronic document, using NFTs

  • Enforce exclusive control (i.e. possessing that Title Document) through Smart Contracts

When you or your trading parties access the .tt file in any TradeTrust-enabled platforms, all can be assured of the authenticity and provenance of a document, irrespective of how a party receives a document or at which stage of the supply chain a party receives it. Your system can extract data from the .tt file for automated processing. Exclusive control is ensured as only one rightful party can possess and claim ownership of the transferable document at any point in time.

A sample of the reference implementation for a TradeTrust-enabled Electronic Transferable Record

Try Verify Document

Trade Compliance Use Case with Verifiable Document

Observe the transformation brought about by the use of TradeTrust-enabled solutions when dealing with verifiable documents such as the Certificate of Origin, where the provenance and authenticity of the document can be easily verified by any party independently with just an internet access or through automation.

Improvements to the:

EXPORTER

TradeTrust process flow improvements for Exporters
IMPORTER

TradeTrust process flow improvements for Importers
CERT ISSUING/CHECKING AUTHORITY

TradeTrust improvements process flow for Cert Issuing or Checking Authority
BANKER

TradeTrust process flow improvements for Bankers
CARRIERS

TradeTrust process flow improvements for Carriers

Trade Finance Use Case with Transferable Document

Observe the transformation brought about by the use of TradeTrust-enabled solutions when dealing with transferable documents such as blank-endorsed electronic Bill of Lading (eBL), where the provenance and authenticity of the document can be easily verified by any party independently with just an internet access or through automation, and the endorsement of eBL digitally.

Improvements to the:

IMPORTER

EXPORTER

BANKER

CARRIERS

Wondering how to get started? Contact us.

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