Cross-border trade of Canada

The CBSA Turns to DLT for Streamlining its Services

The CBSA (Canada Border Services Agency) is looking to simplify Cross-Border trade with DLT with an aim to streamline its services as well as raising the overall the efficiency.

In the present, the CBSA processes as many as 240,000 mail items, 58,600 commercial releases, 127,400 courier shipments and 14,000 trucks every day. For trying to improve these services the Border Services has joined hands with a blockchain-based digital shipping firm, TradeLens.

TradeLens was founded by IBM and Maersk, the world’s largest container shipping company. As a blockchain-enabled shipping solution, the company lists down its aims for promoting secure international trade, supporting transparency and bringing together all the international supply chain.

The Canadian government looks these attributes as essential to move ahead owing to the size of its operations as well as the demands on its workforce. John Ossowski, the CBSA president, commented that services need the blockchain for making its services even more efficient. He explained –

“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 very stressed intense environment, with the business reliant on documents that reach their destinations immediately. Ossowski looks at the data providence as important, a factor that DLT is ensured to bring towards the current tracking systems. He further added –

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

Canada has been making news somewhere else this week since it becomes the second nation after Uruguay to legalize cannabis. Supply chain management will surely become a significant factor under the new legislation.

DMG Blockchain Solutions is presently negotiating with the cannabis government regulators, retail distributors, quality assurance labs and licensed producers for developing a cannabis supply chain solution. DMG explains itself as a diversified cryptocurrency and blockchain company working on end-to-end solutions to monetize blockchain’s system.