Enigio is among the companies featured in the prestigious Periodic Table of DLT Projects in Trade. The just-published periodic table is a collaborative effort between the World Trade Organization (WTO) and Trade Finance Global (TFG).
Authored by WTO’s Emmanuelle Ganne and TFG’s Deepesh Patel, the report looks at companies applying technology to facilitate trade, especially during the COVID-19 pandemic.
According to Xiaozhun Yi, the Deputy Director-General of WTO, Distributed Ledger Technology (DLT) is key to trade growth around the world. He stated,
The promising potential of DLT to facilitate international trade, from customs procedures to trade finance, will only be realised if regulation evolves to support the large-scale deployment of the technology and if a globally harmonised, digitised trade environment is put in place. This will require a global dialogue, a dialogue that involves all stakeholders, public and private.
The first version of the report was published in November 2019 after a study dubbed, ‘Blockchain & DLT for Trade: A Reality Check’. The periodic table provides insight into various DLT projects that are shaping the global trading landscape.
The 44 projects featured in the 2020 report are gauged from the conceptual phase (0) to live and running- well established (5).
Patel, the Editorial Director at TFG, said,
Overall, we have found that the industry has made steady progress towards trade digitalisation, with the average project moving from a maturity of 2.3 out of 5 to 3.3.
His co-author, Emmanuelle, a senior analyst at WTO’s Economic Research and Statistics Division, added,
The future of trade digitalisation relies on interoperability and the development of end-to-end solutions. Any digital process will only be as strong as its least digitised link. For international trade this means integrating customs.
Enigio’s trace:original is a key solution for digitising trade documents
Enigio’s trace:original stands out for its unique solution that not only creates digital original documents suitable for the most complex trade documents like bills of exchange and bills of lading but also notarises them without any business or personal data leaving the document. The documents are compliant with the MLETR and also completely fraud safe and freely transferable to anyone with a computer and access to the internet. These features make Enigio a key solution in the periodic table and for international trade.
Göran Almgren, the CEO of Enigio commented:
Our advanced document technology also solves the interoperability problem as they can be freely transferred to anyone and between platforms. In addition, they are machine and human readable and the solution can be implemented in parallel with current processes and system.