New Working Group – International Trade
Juan Cabrera has started the GBA International Trade Working Group. This group will be working closely with GBA organizational members and leaders including:
- United Kingdom’s Department for International Trade – Finance & Professional Services (US Mid-Atlantic Region)
- GBA Regional Leaders
- African Lead, Ngueti Armand Gaetan
- Asian Lead, Daniel Yim
- India Lead, Sharat Chandra
- North America (Central) Lead, John Carpenter
- North American (East) Lead, Randall Lee Pires
- North American (West) Lead, Aleks Vorobets
- Central American Lead, Carlos Toriello Herrerías
- South American Lead, Silvio Frank Pupo-Casco
- European Lead, Shiv Aggarwal
The group will focus on the many topics related to international trade including: supply chain, regulation & compliance, finance, logistics & shipping, digitalization & security, data & documents, markets, economics, etc. The group will work on areas where trust is needed and blockchain enables:
- Process efficiency and cost savings
- Transaction speed and settlement
- Real-time, end to end visibility
- Data provenance and security
- Facilitator of trade financing innovation
- Simplification of compliance
One of these problems to solve was “visible” during COVID-19 with the bill of lading which is a document issued (lack of airplanes during pandemic caused a huge problem) to the exporter by the maritime carrier to acknowledge receipt of cargo for shipment. Importer displaying a Bill of Lading (usually physical document) can receive a delivery order with which he can release the cargo from the port.
Pain point to the community
- Business risk: Lose, forgery, delay in delivery of physical documents, commercial disputes
- High handling time & costs: Issue, deliver, validate, compare, process, change physical documents.
The group will also be hosting online events (and in-person events next year) to showcase blockchain-based solutions to a global marketplace.
For more information about this group, please contact Juan Cabrera.
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