Founded in 1837, the Singapore International Chamber of Commerce (SICC) is one of the oldest business organizations in Singapore and even in Asia. At present, the member companies of Singapore International Chamber of Commerce come from more than 40 countries around the world, of which Singapore local companies account for 39%, American companies account for 14%, Japanese companies account for 7%, and British companies account for 7%. In order to simplify the cumbersome paper trade document processing process, the Singapore International Chamber of Commerce announced the launch of a blockchain electronic certificate platform integrating QR code technology, aiming to serve its member companies in a more flexible, transparent and trustworthy manner.
Victor Mills (Victor Mills) is the CEO of the Singapore International Chamber of Commerce. He said that the blockchain electronic certification platform launched this time can verify trade documents in real time, and use distributed ledger technology to prevent fraud and improve digital security. . Obviously, this initiative can link the traditional trade industry with the digital economy and strengthen the competitiveness of the Singapore International Trade Center.
The certificate of origin is one of the most important documents in the international trade industry. This certificate can verify where the goods were obtained, produced, manufactured and processed. In the past, various stakeholders involved in the entire trade industry—such as importers, customs departments or banks—needed to confirm and verify by stamping on paper documents, but now through distributed ledger and smart contract technology, all parties Simply use the key to verify the certificate of origin authenticity on the blockchain and trigger the smart contract to show that the document has been processed.
Not only that, in order to further improve efficiency, the Singapore International Chamber of Commerce will also use QR codes to speed up the process. Stakeholders do not have to browse a large blockchain key database, but only need to use their mobile phones to scan the QR code to view the required documents. .
At present, the Singapore International Chamber of Commerce plans to gradually promote the solution to the world starting from Asian countries after the successful trial.
