{"id":7450,"date":"2023-03-30T15:50:49","date_gmt":"2023-03-30T07:50:49","guid":{"rendered":"https:\/\/daily.sg\/?p=7450"},"modified":"2023-03-30T17:02:47","modified_gmt":"2023-03-30T09:02:47","slug":"singapore-leads-the-way-with-worlds-1st-electronic-tradetrust-shipment","status":"publish","type":"post","link":"https:\/\/daily.sg\/2023\/03\/singapore-leads-the-way-with-worlds-1st-electronic-tradetrust-shipment\/","title":{"rendered":"Singapore Leads the Way with World&#8217;s 1st Electronic TradeTrust Shipment"},"content":{"rendered":"\n<p><strong>\u2022 Singapore&#8217;s IMDA pioneers the world&#8217;s first electronic TradeTrust cross-border shipment<br>\u2022 Electronic Transferable Record (ETR) technology streamlines global trade<br>\u2022 Successful trial showcases the potential for broader adoption of eBL in cross-border trade<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"ast-oembed-container \" style=\"height: 100%;\"><iframe loading=\"lazy\" title=\"Singapore Leads the Way with Worlds 1st Electronic TradeTrust Shipment (30 Mar 2023)\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/aFReGD7lYLk?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div><\/figure>\n\n\n\n<p>The world has taken a giant leap into the digital future.<\/p>\n\n\n\n<p>In Singapore, an amazing thing has happened. <\/p>\n\n\n\n<p>The Infocomm Media Development Authority (IMDA) has done something no one else has done before. <\/p>\n\n\n\n<p>They have made the world&#8217;s first live electronic TradeTrust shipment.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">A New Way to Trade<\/h2>\n\n\n\n<p>Together with industry partners, IMDA has changed the way we trade across borders.<\/p>\n\n\n\n<p>They did a live shipment from Singapore to Thailand using a special thing called an Electronic Transferable Record (ETR).<\/p>\n\n\n\n<p>This ETR is like a paper Bill of Lading (BL), but it&#8217;s all digital.<\/p>\n\n\n\n<p>The TradeTrust framework made this possible.<\/p>\n\n\n\n<p>Mr. Loh Sin Yong, Director of TradeTrust at IMDA, said, &#8220;We believe this will illuminate wider adoption of eBL in cross-border trade.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How It Worked<\/h2>\n\n\n\n<p>ExxonMobil Asia Pacific shipped liquid chemicals from Singapore to Thailand.<\/p>\n\n\n\n<p>They used a TradeTrust-enabled digital platform, Bunkerchain, to make an electronic Bill of Lading (eBL).<\/p>\n\n\n\n<p>A lot of people and groups helped make this shipment work. <\/p>\n\n\n\n<p>They all trusted the eBL and followed the rules.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why It Matters<\/h2>\n\n\n\n<p>This new way of trading is important for the whole world.<\/p>\n\n\n\n<p>It makes trading faster and cheaper.<\/p>\n\n\n\n<p>It also helps different countries work together better.<\/p>\n\n\n\n<p>The TradeTrust framework makes it easy to use ETRs in a safe and trusted way.<\/p>\n\n\n\n<p>Now, we can trade things without using so much paper. That&#8217;s good for the planet, too.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Actionable and Practical Takeaways<\/h2>\n\n\n\n<p>\u2022 Learn more about <a href=\"https:\/\/www.tradetrust.io\" target=\"_blank\" rel=\"noopener\" title=\"\">TradeTrust<\/a><br>\u2022 Explore how digital platforms like Bunkerchain can help your business<br>\u2022 Be open to new technologies that can change the way we trade<\/p>\n\n\n\n<p>The world is changing fast. Singapore is leading the way with this new way of trading called Electronic TradeTrust.<\/p>\n\n\n\n<p>We can all learn from this amazing achievement. It shows us that the future of <a href=\"https:\/\/daily.sg\/2023\/03\/embracing-the-digital-trade-revolution-in-singapore\/\" title=\"Embracing the Digital Trade Revolution in Singapore\">global trade is digital<\/a>, and it&#8217;s already here.<\/p>\n\n\n\n<p><em>What do you think about this new way of trading? Can you imagine how it could change the way we do business all over the world?<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Discover how Singapore&#8217;s IMDA and industry partners have revolutionised cross-border trade with the world&#8217;s first live electronic TradeTrust shipment.<\/p>\n","protected":false},"author":8,"featured_media":7454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[15,437,445],"tags":[735,769,768,767],"_links":{"self":[{"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/posts\/7450"}],"collection":[{"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/comments?post=7450"}],"version-history":[{"count":5,"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/posts\/7450\/revisions"}],"predecessor-version":[{"id":7473,"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/posts\/7450\/revisions\/7473"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/media\/7454"}],"wp:attachment":[{"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/media?parent=7450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/categories?post=7450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/daily.sg\/wp-json\/wp\/v2\/tags?post=7450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}