Welcome to part 2. I hope you are ready for some deep DLT knowledge! I found this World Trade Organization document as I was deep-searching the web, it is filled with gems of information for deep thinkers that want to learn how blockchain is revolutionizing global industries. I provide my insights from important parts of this document comparing to what was being said in 2018 and what I have seen following the revolution the last couple of years.
Please note this was a 163-page document and it took me 5 hours to read, take notes, and record and edit. I made it into a three-part series.
If you are paying attention you will gain a lot of knowledge to see how things have been evolving over the years.
❗️Disclaimer: This is not financial advice❗️
This is based on regulated content so can be boring in some spots.
I am not paid to create any of this, I create this to try and spread awareness of what mainstream media is not covering.
📕 —–Table of Contents—–📕
00:00 Intro (Included deep infographics pictures on MLETR)
01:41 Quick introduction into Chris Southworth Secretary-General / Leader of ICC LRAB before update video with the ICC for 2022
03:50 Feb 2022 ICC Update video on the broken trade system and digitalization. (Pay attention to all screenshots I attach in this video..)
06:00 ICC Are we ready to trade digitally?
06:20 The deepest and quickest explanation of all the puzzle pieces connecting together – my gift to you
08:50 Back to review of the World Trade Organization document:
10:00 An example of how much paper costs in a trade transaction
11:15 Visual and explanation example of Enigio dDOC ISO20022 Interoperable & MLETR Compliant which is built on XDC network12:00 Economist calls DLT the “Trust Machine”
13:40 Iota is listed DLT, R3, Hyperledger
14:13 Ripple, HBAR, Iota mentioned as DLT networks
14:20 Document just lists types of blockchains
15:00 Smart contract explanation
15:50 Document asks blockchain revolution international trade? My answer 100%
16:05 Towards paperless trade. Gives examples of problems with paper. 1 Shipment – Over 100 people were involved throughout the journey and number of interactions exceeding 200. Took shipment 34 days to go from farm to retailers including 10 days waiting for documents to be processed…
18:00 Solid proof that the digitalization of paper is actually happening in global trade – ITFA DNI Initiative “Ending Paper Based Trade UK Law Commision 2020”
21:20 Problems with existing traditional trade finance brief into Legal Entity Identifiers
23:40 Example of Data points from digitalizing paper documents
24:30 Quick into into ICC URDTT Rules and process standards25:23 Document shows infographics to show trade finance lifecycle of documents
26:32 ICC + ISO Developing standards may take time…
27:30 Part 3……
📋 — INFO LINKS — 📋
World Trade Organization Document I review
https://www.ibm.com/downloads/cas/KJDPQKBE
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I am only creating content to help other citizens see how the blockchain revolution is changing the world!🌎
Cheers,
Citizen of the Future!