U.S. Customs and Border Protection (CBP) has put together measures that will make use of the blockchain technology to confirm the North American Free Trade Agreement (NAFTA) and Central American Free Trade Agreement (CAFTA) certificates.
In regards to this project, the new experiment will experience the agency instigate “live fire testing”, a blockchain stage to verify imported goods originate from the state of transfer and to verify dealers are “compliant along with their U.S importers” according to American Shipper.
Vincent Annunziato The head of CBP Division of Business Transformation and Innovation stated that the agency is running the experiment, in advance of a September unveiling in a proposition to get ready for the forthcoming and to surge market acceptance.
Annunziato stated while speaking in an interview at CBP’s 2018 Trade Symposium in Atlanta: “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.”
The new system when unveiled will be accessible in a mobile app substituting the paper-based currency process used for confirmation.
He also gave an up to date status on the Commercial Customs Operations Advisory Committee (COAC)—a particular group created in November 2017 to give counsel to the Secretaries of Treasury and Homeland Security on the agency’s marketable processes. According to Annunziato, this assembly is at the moment working on a “proof-of-concept exercise” that will influence the blockchain to confirm intellectual property between “IP licensees and licensors.”
“So if you have a rights holder that is granting licenses to Company A, and then did they also grant the right for Company A to license out? You can now follow generationally what’s going on. So in a way, the government’s got a view of that interaction with the company, and we see it as a worthwhile venture for the rights holders,”
Additional strategies by the CBP comprises of developing an app that influences the blockchain to authenticate trademarks and IP inspection purposes. The agency’s aim is to eradicate paper-based procedures for U.S customs operations.
“Why would we need to have that absolute signature if we know the government of Australia is sending me something, and I can, without a shadow of a doubt, know that it’s Australia or France or Switzerland?” he finalized.
Kevin McAleenan CBP Commissioner also established in the course of the conference that the organization is at work with some private sector associates and the Department of Homeland Security Science and Technology Directorate on “interoperability standard” for blockchain.
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