The US'S Second Block Chain Test Will Focus On Intellectual Property Rights.

The US Customs and Border Protection (CBP), which is part of the US Department of homeland security, is preparing to conduct second tests on the potential use of block chaining technology, which will bring more transparency, efficiency and security to the trade process.

According to a CBP report, the focus of the second test will focus on Intellectual property rights.

CBP began to evaluate the use of block chains in the first (2017) years of November, and went to (2018) to verify the qualification of goods in the plateau area under the North American Free Trade Agreement (NAFTA) and the Central American Free Trade Agreement (DR-CAFTA) and conduct technical tests.

This test found that the tool achieved instant communication between CBP and the operators, improved the paperwork of receipt opening, and promoted the processing flow of CBP. Other advantages include eliminating manual document requests and repeated typing of data, finding potential problems early, collecting complete data (certificate of origin and entity data), submitting the entry digest for the first time, enhancing target hit, making it easier and more direct communication with importers, and backing up files more easily when needed.

The basic function of block chaining is the distributed ledger, which is used to verify and record transactions in a permanent way. The use of block chaining technology is transparent to all people entering the network, but block chain records are decentralized in the entire network, which makes records almost impossible to destroy. According to a report by trade law expert Sandler, Travis & Rosenberg, this security protection makes block chains have the benefits of recording various activities, including customs and trade-related transactions.

The technology is making progress in the textile and garment industry, because it has the potential to change the way in which information and transactions are collected, owned, stored and shared between enterprises and the entire industry ecosystem. The implementation of the technology not only radically improves the transparency of the entire supply chain, but also makes the end-to-end tracking easier.

CBP has been working on the use of block chains to promote freight capacity based on known relationships between intellectual property holders and authorized persons. The trade law said it expects the live fire system to be tested in this (9) month, and will assess the relevant legal, policy, technical and operational issues thereafter.

Other conceptual tests that have been in progress or are about to start will verify that the verifiable credentials (i.e., automating the business or individuals legitimately), and importing purchase orders (combining freight and entry data) will be used to eliminate the dependence on the US customs commodity tariff code (HTS) and track the oil transportation from tubing joints to oil imports.