Copy link
Increase text size
Decrease text size
Link copied

U.S. Customs and Border Protection to trial blockchain technology

U.S. Customs and Border Protection Office

Mon, 20 Aug 2018, 06:56 am UTC

The U.S. Customs and Border Protection (CBP) is going to test blockchain potential in verifying North American Free Trade Agreement (NAFTA) and Central American Free Trade Agreement (CAFTA) certificates, American Shipper reported.

CBP Business Transformation and Innovation Division Director Vincent Annunziato said last week that the agency will begin a “live fire testing” of blockchain technology to verify NAFTA and CAFTA certificates of origin in September.

With this trial, CBP hopes that it would be able to apply the technology towards getting more accurate information about imported goods as well as verifying foreign suppliers’ compliance towards their U.S. importers, he said.

“Really what the government’s trying to do is twofold: One is to help blockchain along in a healthy manner for increasing market adoption, and the other thing is we’re trying to prepare ourselves in a proactive way to be ready for when private industry begins to really take off with this technology,” Annunziato said.

The agency is also considering developing a mobile app for the blockchain solution, which will help streamline the manual process for gathering information, he said.

Annunziato further said that CBP is working with the Commercial Customs Operations Advisory Committee (COAC) on a proof-of-concept which focuses on exploring the use of blockchain in the area of intellectual property to identify IP licensees and licensors.

In statements, , CBP Commissioner Kevin McAleenan said that the agency is also working with private sector partners and the Department of Homeland Security Science and Technology Directorate on creating an “interoperability standard” for blockchain.

“We had to develop the ability to understand that data, reformat it in a consistent way, so our targeting system and our analysts could use it,” McAleenan said. “That’s the kind of interoperability challenges we’re going to face with blockchain. As industry tries to adopt blockchains more broadly, the ability to understand what they mean — and to apply in our decision-making — is going to require that interoperability standard.”

<Copyright © TokenPost. All Rights Reserved. >

  • PUBLISH (NEWS) $0.000580 (-8.69%)
  • Bitcoin (BTC) $26,132.70 (-0.63%)
  • Ethereum (ETH) $1,586.10 (0.00%)
  • Tether USDt (USDT) $0.999562 (-0.06%)
  • BNB (BNB) $211.22 (+0.63%)
  • XRP (XRP) $0.499433 (-0.71%)
  • PUBLISH (NEWS) $0.000580 (-8.69%)
Jul 15, 2021 (Thursday)
13:30
BTC Surges by 1.16% Within 5 Mins, Marking 31,824.01 USDT
12:06
BTC Surges by 1.12% Within 5 Mins, Marking 32,104.8 USDT
10:25
BTC Drops by 1.03% Within 5 Mins, Marking 32,171.88 USDT
02:13
TriumphX Scouts 'MINAMCOMPANY' CEO Woo-Seong Lee As Creative Director
02:00
ETH Tops List Of Crypto Net Inflow With $298.96 Mln In Past 10 Hours
Jul 14, 2021 (Wednesday)
13:14
BTC Surges by 1.03% Within 5 Mins, Marking 32,738.08 USDT
09:03
BTC Surges by 1.01% Within 5 Mins, Marking 31,899 USDT
02:30
Crypto Market Sentiment On Jul 14: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $224.97 Mln In Past 10 Hours
Jul 13, 2021 (Tuesday)
02:30
Crypto Market Sentiment On Jul 13: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $178.61 Mln In Past 10 Hours
Jul 12, 2021 (Monday)
02:30
Crypto Market Sentiment On Jul 12: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Inflow With $164.82 Mln In Past 10 Hours
Jul 11, 2021 (Sunday)
21:31
BTC Surges by 1.02% Within 5 Mins, Marking 34,475.6 USDT
10:00
ETH Tops List Of Crypto Net Inflow With $122.76 Mln In Past 18 Hours
06:17
SOBA Listed On LATOKEN
02:30
Crypto Market Sentiment On Jul 11: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $87.56 Mln In Past 10 Hours
Jul 9, 2021 (Friday)
21:40
BTC Surges by 1.08% Within 5 Mins, Marking 33,911.8 USDT
02:30
Crypto Market Sentiment On Jul 09: Market In "Extreme Fear"
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.