Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Blockchain

Global eTrade Services Facilitates Trusted Connections and Proof of Provenance of Goods with the Launch of Blockchain-based Electronic Certificates of Origin (eCOs)

Published

on

Reading Time: 2 minutes

 

Global eTrade Services (GeTS), a global trade platform company, will launch blockchain-based electronic Certificates of Origin (eCOs) in partnership with Singapore Chinese Chamber of Commerce & Industry (SCCCI). The service will be made available on GeTS’ neutral and trusted Open Trade Blockchain (OTB) platform from 5th July 2019.

Mr. Chong Kok Keong CEO of GeTS said: “We are delighted to partner SCCCI to roll out this initiative by harnessing our blockchain technology to fulfil regulatory requirements. We will continue to make trade more accessible, easier and predictable for global trade.”

The Certificate of Origin is an important trade document for cross-border trade between countries and use to certify the origin of the imported goods. The blockchain-based eCOs on GeTS’ OTB platform will facilitate a more open and transparent digital trade economy, promote trusted connections, help establish the provenance of goods, and serve as a source of authenticity to Customs agencies and importers. It will also help to mitigate fraud risks or potential alteration of content, providing an immutable audit trail while facilitating a more secure exchange of trade documents.

Mr Roland Ng, President of SCCCI said: “SCCCI actively helps enterprises in business development and transformation, enabling them to adapt swiftly to global changes. The partnership with GeTS will empower businesses to expand their global footprint with ease, enhance their productivity, and help our members to harness the business opportunities using a trusted, secure, borderless and seamless blockchain technology.”

Advertisement

With more than thirty thousand Certificates of Origin being issued yearly, blockchain-based eCOs will enable trade documents to be exchanged securely on a neutral platform on OTB, improving the supply-chain efficiency. Highly compliant industries such as food, pharmaceutical and automotive will benefit, especially when safety and health are key concerns. It allows traceability and provide transparency in the supply-chain in the event of fraud, recall or adulteration for the food, automotive or medication shipped.

Mr Eugene WongChairman of GeTS said: “We continue to innovate and bring about critical digital transformation in the trade and logistics industry. Blockchain will transform international trade, and the OTB platform is the perfect solution to bridge and create a neutral layer of trust among multiple stakeholders, allowing them to collaborate and access to trade documents securely.”

 

SOURCE Global eTrade Services

Advertisement

Blockchain

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

Published

on

fintech-as-a-service-market:-a-comprehensive-trends-analysis-predicts-a-usd-1,32912-billion-by-2032-cagr:-17.4%-|-pmr
Continue Reading

Blockchain

Bybit Web3 Launches World’s Largest GameFi Playground at Crypto Ark-ade as GameFi Market Size Surges to $20bn

Published

on

bybit-web3-launches-world’s-largest-gamefi-playground-at-crypto-ark-ade-as-gamefi-market-size-surges-to-$20bn
Continue Reading

Blockchain

Money Transfer Apps Industry Worth $47.67 Billion by 2029 – Regional Markets Analysis and Profiles of Leading Players PayPal, Western Union Financial Services, Wise Payments, Remitly, WorldRemit, Revolut & More

Published

on

money-transfer-apps-industry-worth-$47.67-billion-by-2029-–-regional-markets-analysis-and-profiles-of-leading-players-paypal,-western-union-financial-services,-wise-payments,-remitly,-worldremit,-revolut-&-more

Global Money Transfer App Market

Continue Reading
Advertisement
 title=
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE