CBP's IPR Blockchain Test Shows 'Great Potential' of the Technology in Trade
CBP recently completed the blockchain proof of concept involving intellectual property rights, the agency said in a news release. “Supporting American innovation and ingenuity by upholding intellectual property rights has always been a critical part of the CBP mission,” said…
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Brenda Smith, executive assistant commissioner of CBP’s Office of Trade. “This pilot represents great potential for marrying new technology with our traditional trade mission; to protect the US economy.” The test involved connecting the “data correctly to the product and to the license, resulting in fewer physical examinations,” CBP said. “This was accomplished via blockchain interoperability, which means that each organization participating in a transaction can communicate with others using their unique blockchain, regardless of different software used by each party, allowing companies the flexibility to select and customize technology that suits their unique needs.” This was the first test of “standards and specifications to facilitate blockchain interoperability using open, standardized approaches,” which will “help create a framework for rapid adoption and cost reduction,” it said. “These specifications were funded by the DHS Science & Technology Directorate and tested by CBP’s Office of Trade and contributed to the global standardization process at the World Wide Web Consortium.”