While trade wars continue to drag on, there is an effort underway to speed trade between countries not at odds by solving the root of the inefficiencies in global trade: too much paperwork. Enter OriginBX, an “international movement” to advance open-source product & trade data standards for facilitating digital tax & trade attestations. Says Accenture’s blockchain co-Lead Melanie Cutlan: “Streamlining global trade compliance has emerged as a compelling use case for blockchain-enabled transformation. Businesses in different industries, however, can only tap into this value by first establishing standards by which we all classify and certify goods and services.” OriginBX chair Todd R. Smith notes: “Providing & obtaining info about a good via email is archaic, redundant & costly.”

Adds Inveniam’s Kerry Rudy Rudy: “Contributing to a world of transparent and free, frictionless trade is the end goal for the OriginBX consortium. Our ability to credential data builds trust between global trading partners and regulatory agencies and facilitates the efforts of OriginBX to contain the cost of trade and increase the movement of goods around the world, whether in single shipments or container-loads.” There’s a revolution in global trade – better data and records management is at the heart of it all. #Inveniam

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