Dear all,

Due to the importance of Blockchain in the future of Customs, I’m not sure if you are aware but IBM along with most important European Banks (Santander, DB, Unicredit, etc.) have designed a software called We.Trade to ease international trade transactions and since operations were launched last year, I believe it has been an absolute success.

The idea is to connect buyers, sellers, and banks in order to simplify transactions such as Letters of Credits, Export collections, etc which from my previous experience working in the manufacturing industry is a huge burden.

However, I believe they are willing to further expand to other branches within Trade Operations, as for example establishing a direct link with Customs for IP/OP/TA and other procedures which might imply VAT/Duty exemptions through bank guarantees.

I don’t know if we there will be time for this but dedicating some space for this will definitely be of interest, specially if we are considering the Manufacturing Sector as one of our Discussion groups.

Trade finance is a very important part of trade operations and I believe it is highly respected, however many employees working on International Trade feel reluctant to be trained on this aspects due to implications it might have (large amounts of money transactions) and decide to just rely on banks and financial bodies to the work for them.

Offering some space in our workshop on the topic (Blockchain&Trade finance, could help us to differentiate ourselves from other intitutions.

Sorry, for the long text.

Thanks,

Barbara