Note

BREAKING: Australia Plans to Test Paperless Trade with Singapore Using Blockchain

Verified Official
· Views 494

BREAKING: Australia Plans to Test Paperless Trade with Singapore Using Blockchain

Photo: Bloomberg

The Australian Border Force (ABF) announced today that the agency is working on cross-border trade solutions with Singapore to make the entire process simple and paperless through the integration of blockchain technology.

In an official press release, the ABF stated that the planned solutions are in line with the bilateral Australia-Singapore Digital Economy Agreement.

A blockchain trial was launched earlier this week between the authorities of Australia and Singapore to make the trade documentation completely digital.

The agency also notified that the blockchain-based digital verification system has been developed by technology experts from Australia and Singapore at the United Nations Centre for Trade Facilitation and Electronic Business (UN/CEFACT) for inter-government document exchange. ABF expressed a willingness to collaborate with other international agencies to expand the paperless trade program.

Original article:

https://www.financemagnates.co...

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.