he volume of container shipping has more than tripled in less than twenty years into the 21st
century and new transport corridors are opening across the globe as emerging economies play more important roles in supply chains.
The expanding reach and depth of these corridors is supported by businesses, that still struggle to overcome certain key challenges. These challenges include;
- Optimising transport networks,
- Integrating warehouse, transport, and customs procedures,
- Real-time inventory management,
- Supply planning and
- Reliable logistics services.
At the same time, governments struggle to enforce import and export controls.
The governments also face challenges, that arise from;
- Invoice fraud,
- False declarations of origin,
- Special arrangements for customs unions and free trade agreements,
- Authenticating documents.
The cross-border movement of goods also carries risks for environmental protection, public health, animal health, intellectual property rights, fighting global terrorism and organised crime.
Increasingly, customs authorities have to enforce complex trade measures, imposed to protect local markets from countries with comparative advantages.
Enforcement to meet these challenges often results in net loss of revenue in tax & duty for governments.
The needs of businesses and governments require a solution that offers a single source of truth for information about trade flows. They need a transparent, secure, immutable and user-friendly data platform that provides end-to-end visibility for international supply chains.
BTP is a solution to these requirements by harnessing key innovations in blockchain technology. BTP aims to create a global single window on international trade, that offers end-to-end visibility in a supply chain and digitises traditional trade documentation. Our platform helps ensure full compliance for both exporters and importers. Every step in a shipment’s lifecycle is handled by a permissioned blockchain infrastructure: from creating a purchase order all the way through to manufacturing, packaging, documenting, transport planning, warehousing, customs clearance and delivery.
BTP manages data flows on a trusted, transparent, immutable, and fully compliant digital platform build on cutting edge Blockchain technology.