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Transforming trade with electronic bills of lading

IMDA Recap Main Min

Published 05 November 2024

In collaboration with the Hinrich Foundation, the team that created Singapore’s blockchain-based paperless documentation framework TradeTrust hosted a clinic on how the tool can help trade practitioners and industry. The event was held at the Foundation’s office on 17 October. Check out some photos here.

Transforming trade with electronic bills of lading event by TradeTrust

Transforming trade with electronic bills of lading event by TradeTrust

TradeTrust is a Singapore-backed initiative to turn global trade paperless. As a world-class public good, TradeTrust is a software protocol built on blockchain, smart contracts, and non-fungible tokens, to provide the authentication and verification needed to replace the reams of paper documentation such as bills of lading and certificates of origin still needed for global shipping.

Participants of the clinic heard from industry leaders and learned about how Electronic Bills of Lading (eBL) can improve efficiency and make global trade more sustainable in the long run, which remains too resistant to going paperless.

SGTraDex, Singapore’s digital infrastructure that facilitates trusted and secure sharing of data between supply chain ecosystem partners, demonstrated how TradeTrust can optimize documentation process and promote data exchange. During the clinic, Infocomm Media Development Authority (IMDA) partner XDC Network also shared how they help small businesses access short-term funding to foster sustainable trade growth and mitigate trade risks.

The speakers for this event were:

  • Loh Sin Yong, Senior Principal Consultant, TradeTrust, Infocomm Media Development Authority
  • Kathryn Dioth, Chief Executive Officer, Hinrich Foundation
  • Chuin Wei Yap, Program Director, International Trade Research, Hinrich Foundation
  • Denise Pereira, Head of International Expansion and Strategic Partnerships, SGTraDex
  • Sunil Senapati, CEO, XDC Trade Network

© The Hinrich Foundation. See our website Terms and conditions for our copyright and reprint policy. All statements of fact and the views, conclusions and recommendations expressed in this publication are the sole responsibility of the author(s).

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