US Border Officials to Test Blockchain for Certificate Tracking
US Customs and Border Protection (CBP) plans to test block-chain technology to validate North American Free Trade Agreement (NAFTA) and Central American Free Trade Agreement (CAFTA) certificates.
According to American Shipper, Vincent Annunziato, head of CBP Business Innovation and Innovation, proves where the imported products originated at the 2018 Trade Symposium at the CBP's Atlanta Trade Council (CBP) Said the company has started a "due diligence test" on its block-chain platform.
The new system, which will be available in September, will help CBP identify information about imported products and determine how foreign suppliers behave to US importers, he said. The system can also be used to authenticate a trademark and identify the physical characteristics of the item.
"I went in and said," Hey, I need some information on sewing & # 39 ;, or & # 39; I need information on what colors are available & # 39; Annunziato said.
Annunziato said the block – chain system could be used for mobile applications. Mobile applications streamline the organization 's work by verifying this information on behalf of paper – based manual processes.
He also provided up-to-date information on the agency's work through the Business Conduct Advisory Council (COAC). As previously reported by CoinDesk, COAC formulated a special group last November to advise the Treasury Secretary and the Department of Homeland Security on commercial operations of the agency. The body is generally said to focus on emerging technologies, especially block chaining.
This week, Annunziato has identified an effort to develop a proof-of-concept block-chain platform to validate intellectual property by identifying relationships between licensees and licensors. This technology can ultimately eliminate paper processes, manuals and databases.
The CBP press office did not respond to media requests.
United States CBP images via Roman Tiraspolsky / Shutterstock
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