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The Australian Border Force (ABF) believes blockchain is the best way to track goods across regions, so it has started a process with Singapore to explore the practical application of the controversial technology.
It announced a partnership with Singapore Customs and Singapore Infocomm Media Development Authority (IMDA) to begin a trial using digital verification systems, via blockchain.
ABF promoted the process, which began on Monday, will aim to develop solutions that make cross-border trade easier and paperless for Australian businesses.
See also: Blockchain: A Cheat Sheet (TechRepublic)
The trial will test digital verification platforms through ABF’s Intergovernmental Ledger and IMDA’s TradeTrust for electronic business documents.
ABF said testing would be conducted by “expert blockchain technology” from both Australia and Singapore at the United Nations Center for Facilitation of Commerce and Electronic Commerce (UN / CEFACT) for intergovernmental document exchange . The Australian Chamber of Commerce and Industry, Australian Industry Group, as well as Singapore’s financial institutions, including bank ANZ, will take part in the process.
Companies and regulators will provide feedback on their experience verifying certificates of origin with the two systems, ABF said in a statement.
Through the blockchain, ABF aims to reduce administration costs and increase trade efficiency.
“The ABF welcomes the opportunity to further collaborate with Singapore to improve cross-border trade between our countries,” said Border Force Commissioner Michael Outram. “In addition to our international efforts, this initiative will include paperless commerce and the secure digital exchange of business information as part of the future architecture and design of a one-stop shop for Australian commerce.”
The ABF said it will “feed lessons learned from experimentation” in the Supply Chain Working Group’s Discovery Report, which is part of the National Blockchain Roadmap led by Department of Industry, Science, Energy and Resources.
The department released the National Blockchain Roadmap in February, focusing on opportunities across the economy that it believes could be seized and enabled by the use of blockchain technology.
See also: Singapore and Australia formalize digital economy pact
The roadmap contains 12 “road signs”, with the first seeing the National Blockchain Roadmap Advisory Board being formalized and renamed to the National Blockchain Roadmap Steering Committee and another seeing the establishment of a group consisting of a group of blockchain users. governmental.
The roadmap followed the Digital Transformation Agency over two years ago, giving advice to those lost in the buzz of the blockchain that they should turn their attention elsewhere.
Agency chief digital officer Peter Alexander previously drenched its use, adding to the above that “for every use of the blockchain you would consider today, there is better technology: alternative databases, secure connections, standardized API engagement.”
“Blockchain: interesting technology, but at the beginning of its development, it is somewhat at the top of a hype cycle,” he said.
The government agency has even released a questionnaire to allow organizations to self-assess before worrying about something that might be stored in a secure database.
