Image

IAN WATT

NeXTRADE World Pty. Ltd., Founder & CEO

Topic:

Frictionless Global Trade for MSME’s - requires ‘Trust & Transparency’

Abstract:

The international supply chain is characterized by flows of goods and related data. These are aligned with the movement of associated funds which reflect the transactional nature of supply chains. Typically, this movement of funds is linked to specific events in the supply chain and takes place electronically, thus making it well suited to the application of blockchain technology. Goods flow from exporter to importer in return for funds that flow in the reverse direction. The flow of goods and funds is supported by a bidirectional flow of data such as invoices, shipping notices, bills of lading, certificates of origin and import/export declarations lodged with regulatory authorities.

The three flows described above, of goods, data and money, are supplemented by a layer of trust. Trust, or a lack of trust, impacts almost every action and data exchange in international trade, including trust in the:
• Provenance and authenticity of goods;
• Stated value of goods for the purposes of insurance, duties, and payment;
• Promises to pay;
• Protection of goods during shipping (i.e. integrity of packaging, vehicle and container conditions, etc.);
• Integrity of information that is used by regulatory authorities for the risk assessments which determine inspections and clearances; and
• Traders and service providers involved in a trade transaction.

This layer of trust between economic operators determines which technologies are needed to achieve a desired level of reliability in electronic exchanges. Where high levels of trust exist between partners, authentication methods with lower levels of reliability are appropriate. Where such trust has not been established between trading partners, authentication with higher levels of reliability are necessary1. This “layer of trust” is still heavily supported by paper documents, manual signatures, insurance premiums, escrow funds and other trusted third-party services.

Blockchain is a type of Distributed Ledger Technology (DLT). Both DLT and blockchains have the potential to deliver significant improvements and automation in this layer of trust. For the rest of this paper we will refer only to blockchain with the understanding that it is a DLT and some other DLTs can provide similar benefits.

Blockchain provides authentication methods with very high levels of reliability and thus has the potential to deliver significant improvements to the trustworthiness of data exchanges.

Biography:

Ian’s corporate career 1969-1995 commenced with software development (computer programmer) ultimately holding senior corporate positions in Information Technology development and implementation for Toyota and Kraft Foods Ltd. Australia. Aligning and delivering IT strategy to support corporate strategy at a global level.

1996 to current, private practice, Founder & MD Applied Electronic Commerce International Pty. Ltd., Founder & CEO NeXTRADE World Pty. Ltd., Pursuing technology and trade facilitation standards that will enable effective use of the internet by SME traders from developed and developing economies including related service providers and governments agencies.

Return

More Speakers

Image

Sudhir Pai

Capgemini, Chief Technology & Innovation Officer

Image

Steve Vallas

Blockchain APAC, Founder

Image

Christian Vecchiola

IBM Research Australia, Research Scientist

Image

Katrina Donaghy

Civic Ledger, CEO & Co-founder

Image

Nicholas Giurietto

Australian Digital Commerce Association, CEO and Managing Director

Image

Niels Maartens

YBF Ventures, Managing Director

Image

Aleksandar Svetski

Amber, CEO

Image

Pieter Vandevelde

Bozart & Hamington Consultants,
MD Australia

Image

Anya Nova

Power Ledger Pty Ltd, Crypto Economist & Product Manager

Image

Luke Thomas

Portable, Legal Designer

Image

Ian Watt

NeXTRADE World Pty. Ltd., Founder & CEO

Image

Rupert Walsh

Apps COE, Microsoft,
Global CTO

Image

Salil Kanhere

University of New South Wales,
Professor

Image

Joseph Liu

Monash University,
Associate Professor

Image

Yong Xiang

Deakin University,
Professor

Image

Dan Hunter

Swinburne Law School,
Professor & Foundation Dean

Image

Joni Pirovich

Hall & Wilcox,
Lawyer

Image

Robin Li

Yunphant & VNT Chain,
Researcher

Image

Shiping Chen

CSIRO Data61,
Principal Research Scientist

Image

Claudio Lisco

ConsenSys,
Strategic Initiatives Lead

Image

Bill Angelidis

Asta,
CEO & MD

Image

Dominic Benson

Capgemini Invent,
Management Consultant

Image

Duncan Cameron

Capgemini Invent,
Management Consultant

Where

Melbourne

When

August 8-9, 2019

Email

Email: ziyuanwang@swin.edu.au