Canada Looks to Simplify Cross Border Trade With DLT

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Canada Looks to Simplify Cross Border Trade With DLT

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The Canada Border Services Agency (CBSA) is turning to DLT in order to streamline its services and raise efficiency.

Currently, the CBSA processes as many as 14,000 trucks, 127,400 courier shipments, 58,600 commercial releases, and 240,000 mail items every day. In an attempt to improve these services the Border Service has linked up with a blockchain-based digital shipping firm, TradeLens.

TradeLens was created by IBM and the world’s largest container shipping company Maersk. As a blockchain-enabled shipping solution, the company lists amongst its aims as promoting secure global trade, bringing together international supply chains and supporting transparency.

Clearly, the Canadian government sees these attributes as essential in moving forward due to the size its operations and the demands on its workforce. CBSA president John Ossowski commented that services need the blockchain in order to make its services more efficient, explaining:

“This development is an example of the Government of Canada using innovative technology to easily and securely facilitate trade and engage in global trading ecosystems in a modern, productive manner.”

The Border Service is a highly stressed intensive environment, with business reliant on documents reaching their destinations quickly. Ossowski sees data providence as essential, a factor that DLT is guaranteed to bring to current tracking systems. He added:

“TradeLens could create a singular, trusted digital supply chain for all shipments entering Canada…. The end result may be a faster and more reliable national supply chain, which could positively impact Canada’s economic output”.

Canada has been making news elsewhere this week as it becomes only the second nation after Uruguay to legalize cannabis. Supply chain management is sure to become a major factor under the new legislation.

One company, DMG Blockchain Solutions is currently negotiating with cannabis licensed producers, quality assurance labs, retail distributors, and government regulators, to develop a cannabis supply chain solution. DMG describes itself as a diversified blockchain and cryptocurrency company that works on end-to-end solutions to monetize blockchain’s ecosystem.

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