First fully digitalised goods movement post UK’s ETDA
An international consortium has announced the successful execution of the world's first entirely digitalised cross-border movement of goods.
This step is built on the foundation set by the UK Electronic Trade Documents Act (ETDA) which came into force on 20 September 2023.
The pilot was facilitated by the British Chamber of Commerce in Singapore (Britcham) representing British businesses in Singapore.
What made this shipment remarkable was the utilisation of electronic trade documents and fully digital logistics documents, all of which were captured on an enterprise-grade permissioned distributed ledger technology (DLT) platform, across both jurisdictions.
Taking the baton at different stages of this transfer were Singapore Airlines, NG Transport, Woodland Group, BT Rune and EES Freight Services.
The entire process was paperless, leveraging the capabilities of the LogChain platform.
LogChain's platform, aligned with the UNCITRAL's Model Law on Electronic Transferable Records (MLETR) enabled a flawless transition, indorsement, and verification of document, transfers across the diverse digital platforms employed by the involved parties.
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