One of the newer initiatives emerging from the UN/CEFACT ecosystem is UN Verifiable Trade Documents (UNVTD).
The idea is straightforward but potentially very powerful: enabling trade documents such as invoices, bills of lading, certificates of origin, customs declarations and other trade records to be issued as verifiable credentials.
Many organisations are already familiar with the role Digital Product Passports can play in sharing trusted information about products and facilities. UNVTD extends similar principles to the documents that underpin international trade.
This article provides an overview of the initiative, why it is being developed and how it relates to the broader interoperability ecosystem.
Read more:
https://pulse.pyx.io/posts/260202UNVTD.html
A few discussion questions for the community:
- Which trade documents do you think would benefit most from becoming verifiable credentials?
- Where do you see the biggest inefficiencies in today’s trade document processes?
- What opportunities could trusted, interoperable trade documents create for exporters, importers and regulators?
Interested to hear people’s thoughts.