Don’t miss the event of the year, ’AICE 2023 Global Trade 2.0 – An Ecosystem of Trust driving Prosperity’.
Modern freezones and freeports is a key element for Global Trade 2.0, the next digital generation of world trade. We are talking about digital, transparent and compliant SafeZones that provides a wide range of benefits for compliant traders, investors and nations in an Ecosystem of Trust.
I will be Key Note Speaker – hope to see in Dubai.
If you want to know more I recommend you to visit World Freezones Organizations AICE 2023, on 1-3 May in Dubai, UAE.
For more information and registration, click here: AICE 2023
Singapore’s Infocomm Media Development Authority (IMDA) has partnered with a group of companies including ExxonMobil, VLK and Bunkerchain to complete the first paperless cross-border trade on its TradeTrust platform using electronic Bills of Lading (eBL).
The trade involved the use of an ETR (Electronic Transferable Record), functionally equivalent to a paper Bill of Lading (BL), on the blockchain-powered TradeTrust platform, built to harmonise the legal recognition of digital documentations between various jurisdictions.
The ETR cross-border trade involved ExxonMobil Asia Pacific as the shipper, Bunkerchain as the TradeTrust-enabled digital platform provider and VLK as the vessel owner. Bunkerchain provided its digital system for support of logistics documentation processes for the cross-border liquid chemical trade involving multiple parties, such as a surveyor and custom broker.
TradeTrust was used to enable the digitalisation of the issuance, ownership title transfer and surrender of the ETR as an electronic Bill of Lading (eBL) between the different stakeholders across different systems.
The overall process started with ExxonMobil shipping liquid chemicals from Singapore to Thailand, with VLK issuing an eBL using Bunkerchain. Marine Vessel Pass, a joint project between S&P Global Market Intelligence and Bunkerchain, created a ‘Digital Passports for Ships’ on the eBL to verify the digital identity used in the signing, which was tied to the vessel’s IMO number. The eBL was subsequently surrendered via the TradeTrust system.
“Since 2019, Singapore has looked to reshape, reimagine, and redefine the way the world trades. International trade ecosystem is heavily reliant on physical paper documents and signatures for validation,” said Loh Sin Yong, Director, TradeTrust, IMDA.
“This live transaction for consignment of liquid chemical from Singapore to Thailand leverages on the TradeTrust framework to create an eBL that uses UNCITRAL’s MLETR (Model Law on Electronic Transferable Records) compliant statutory law framework.”
“More importantly, we are excited to have demonstrated that the industry can potentially use eBL even if there was no basis of a contractual legal framework. We believe this will illuminate wider adoption of eBL in cross border trade.”
Source: SmartMaritimeNetwork
A pair of shoes is expected to fetch up to $4 million at auction next month.
That’s because the sneakers were worn by Michael Jordan during Game 2 of the 1998 NBA Finals.
It was his final season with the Chicago Bulls and commonly referred to as “The Last Dance,” as documented in a successful TV show a few years ago.
Jordan gave the pair away to one of the janitors in the sportshall after the game, a game where Jordan and Bulls won amd chabged the momentum of the match series.
Jordan already holds the record for the most expensive shoes ever sold at auction. A pair he wore early in his career sold for nearly $1.5 million in 2021.
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