On Tuesday, the U.S. Customs and Border Protection (CBP) agency announced that it would begin testing a blockchain solution to verify certificates of origin for goods coming into the country under the Central America-Dominican Republic and United States Free Trade Agreement and the North American Free Trade Agreement. The agency not only seeks to become an advocate for market adoption, but it also hopes to utilize blockchain technology to collect better data on the source of goods and import/export compliance. While acknowledging the challenge of standing up a blockchain with 47 partner countries, a CBP spokesperson indicated the agency is pressing forward with integrating blockchain into trade compliance. According to American Shipper, the official said, "Really what the government's trying to do is twofold: One is to help blockchain along in a healthy manner for increasing market adoption, and the other thing is we're trying to prepare ourselves in a proactive way to be ready for when private industry begins to really take off with this technology."
Last Thursday, a major U.S.-based shipping company filed a patent application for its new blockchain-enabled package-tracking concept. Meanwhile, a major global enterprise software provider recently announced a supply chain pilot with 16 farm-to-consumer produce suppliers using its cloud-based blockchain as a service (BaaS) platform. According to a Computerworld article, the pilot will seek to implement IoT sensors developed by one of its customers to gather relevant data regarding the parcels themselves, including temperature, humidity, vibration and light exposure.
The second-largest e-commerce company in China, JD.com, is also throwing its hat in the BaaS ring, with the launch of JD Blockchain Open Platform. As its first customer, China Pacific Insurance intends to use JD's blockchain infrastructure to trace state-mandated corporate invoices, known as "fapiao." In paper form, tracking fapiao took time when done correctly, and even more time when errors were made − which was often. China Pacific Insurance hopes that JD's platform will eliminate the paper chase, save money and open a new line of revenue with existing customers.
To read more about this week's articles on blockchain enterprise solutions, see the following:
- CBP launching blockchain testing: Technology will be applied to verify NAFTA and CAFTA certificates of origin
- UPS Eyes Blockchain in Bid to Track Global Shipping Data
- What does Maersk-IBM's TradeLens tell us about the future of blockchain-logistics?
- JD Launches Blockchain Open Platform
- com Launches a Blockchain Platform — But It's Not for Bitcoin
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