In our latest quarterly issue: digital trade & trade finance rules and standards take shape, the state of blockchain for trade, the shifting role of banks amid accelerated automation and digitization plus much more! + SUBSCRIBE

Industry News & Views

ICC World Chambers Federation announces publication of revised Certificate of Origin guidelines: Recommending that all Chambers of Commerce prioritize and promote electronic submission of Certificates of Origin (source: International Chamber of Commerce). + READ MORE

DLT, Blockchain and International Trade – Where are we today?: An excellent overview of the current blockchain digital trade and trade finance landscape, covering key Digital Ledger Technology (DLT) solutions & consortia (source: Deepesh Patel via LinkedIn). + READ MORE

Digitalization in Maritime Transport: UNCTAD releases policy brief on digitization in maritime transport, calling for more interoperability & standardization to ensure digital trade plays a key role in advancing sustainable development (source: UNCTAD). + READ MORE

Forgers Are Forcing a $9 Trillion Business Into Digital Age: OCBC’s Head of Commodity Finance on how the region’s 2nd biggest bank views digital trade as the ultimate defense against paper fraud in trade finance (source: Bloomberg). + READ MORE

ICC releases revised eUCP (Version 2.0) & first-ever eURC (Version 1.0): A major digital trade milestone, reflecting global and industry-wide consensus towards making trade finance processes & rules fit for the digital era (source: essDOCS Blog). + READ MORE

Cross-border trade documentation to go electronic: Singapore Government initiates review of its Electronic Transactions Act (ETA) to enable legally-valid electronic title document transfer, targeting to conclude review work within 2020 (source: Straits Times). + READ MORE

First common digital standards for container shipping on the starting blocks: Recently-formed Digital Container Shipping Association (DCSA) announces its work on proposed digital standards for the Container Shipping Industry (source: The Loadstar). + READ MORE

SWIFT Gives Blockchain Platforms Access to ‘Instant’ GPI Payments Following R3 Corda Trial: Allowing DLT-based trade platforms to make use of its Global Payments Innovation (GPI) platform for near real-time payments (source: CoinDesk). + READ MORE

Global Trade Finance Market to Grow by USD 10.64 Billion during 2019-23: Predicting a Compound Annual Growth Rate (CAGR) of over 4% for the global trade finance industry, driven largely by the rising uptake of digital trade (source: Technavio via BusinessWire). + READ MORE

Corporates’ Role In Helping Banks Tackle The Trade Finance Gap: Open APIs can play a key role in utilizing $1.5tn in available trade finance, as banks’ systems start to integrate directly & seamlessly with corporate client systems (source: PYMNTS). + READ MORE

3 ways blockchain can revolutionize supply chains: WEF highlights areas where blockchain can add significant value for supply chains, incl. enhancing cargo traceability, streamlining supply chain operations & combating corruption (source: WEF). + READ MORE

Tech’s raid on the banks: High-level yet insightful look into the way tech is disrupting the global banking and finance landscape, driven not only by the firms providing the tech but equally by wider changes in customer behaviour (source: Economist). + READ MORE

One sector yet to digitize is shipping: CargoMetrics CEO vents frustration while offering insights into the state of shipping digitization so far, including unique predictions on how tech will inevitably transform the industry (source: Scott Borgerson via LinkedIn). + READ MORE

Automation, digitization, global trade pose challenges for finance leaders: Report sheds light on how automation & digitization will have huge implications on future job security for finance and procurement executives (source: SpendMatters). + READ MORE

Global trade – why digital is key to navigating change: According to AEB’s Geoff Taylor, economic uncertainty may have shaken business confidence, but it offers an advantage to firms that harness new tech when trading across borders (source: Director). + READ MORE

we.trade Co-founder Quits, Reveals Blockchain Doubts: Co-founder & COO of DLT trade finance platform, we.trade, quits firm while revealing his doubts about blockchain technology's promise to transform the industry (source: PYMNTS). + READ MORE

Bangladesh sets foundations for bridge over digital divide: Recent UNCTAD report on the Country’s readiness to conduct electronic trade finds that it has laid key foundations for a technology-driven digital trade economy (source: UNCTAD). + READ MORE

A Blockchain System for Azerbaijan’s Digital Economy: Government backs wide-reaching blockchain initiative, including its very own Digital Trade Hub, a single window public-private platform for facilitating trade & e-commerce (source: Yahoo Finance). + READ MORE

essDOCS News

Barry Williams joins essDOCS as President to drive strategic partnerships: Bringing with him unrivalled expertise in scaling software businesses in the global trade management arena. + READ MORE

essDOCS in Numbers