►
From YouTube: Technology integration by China Systems and Enigio
Description
A presentation by China Systems and Enigio at the Hyperledger Trade Finance Special Interest Group in June 2020. A way to secure delivery of documents in real-time from any place. Joel Schrevens of China Systems drove us through a journey in the latest technology developed by the company China Systems in order to digitise successfully export related documents, with a special focus on guarantees. Special attention was given to the subjects of interoperability in all of its aspects.
More about the Trade Finance SIG is at:
https://wiki.hyperledger.org/display/TFSIG/
----
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A
A
Could
you
stop
recording
jillian?
I
did
yes,
so
I'll
go
through
the
antitrust
policy.
The
linux
linux
foundation
meetings
involve
participation
by
industry
compatibles,
and
it
is
the
intention
of
the
linux
foundation
to
conduct
all
these
activities
in
accordance
with
ethical
and
trust
and
competition
laws
is
therefore
extremely
important.
The
attendees
admit
missing
agendas
and
be
aware
of
and
not
participate.
A
A
If
you
have
questions
about
these
methods,
please
contact
your
company
council
or,
if
you
are
a
member
of
the
linux
foundation,
feel
free
to
contact
upgrade
of
the
firm
of
gasoline
at
the
professor,
which
provides
legal
counsel
to
the
limits
foundation.
Hyperledger
is
committed
to
creating
a
safe
and
welcoming
community
for
all
for
more
information.
Please
visit
our
ipod
code
of
conduct
so
welcome
everybody.
A
A
B
Yes,
we
can
join
okay,
perfect,
perfect,
right,
okay.
Well,
first
of
all,
I
would
like
to
thank,
of
course,
hyper-alleged
special
interest
group
for
trade
finance
to
invite
me
to
have
this
opportunity
to
present
what
china
systems
are
doing
in
the
area
of
trade.
Digitalization.
More
specifically,
digital
document
technology
quickly
introduce
myself.
My
name
is
jovos
krevz,
I'm
solutions
director
for
china
systems,
I'm
also
part
of
the
trade
digitalization
services
team
that
we've
recently
created
and
I've
got
some
of
my
colleagues
on
the
call
as
well
like
felipe
bruno,
will
be
joining.
B
So
if
there
are
more
detailed
questions
after
my
presentation,
especially
on
the
technical
side,
because
I'm
more
business
oriented,
then
phil
and
bruno
will
definitely
be
able
to
assist
on
those
technology
related
questions,
okay,
so
the
topic
for
today.
What
has
china
systems
done
in
terms
of
integrating
with
digital
document
technology?
B
They're
part
they're,
very
much
part
of
the
flow
in
trade.
So
if
you
cannot
crack
that
nut
cannot
solve
that
problem
of
the
documents
we
have
a
challenge.
So
when
we
looked
at
the
technology,
we
first
defined
a
number
of
criteria,
because
we
could
be
looking
for
a
tactical
solution
for
a
vertical
industry
vertical
solution,
but
those
typically
will
do
on
a
project
basis,
but
you
wanted
to
look
for
something
fundamental,
something
which
could
be
globally
deployed
across
industry.
So
that's
one
of
the
criteria.
B
We
said
the
key
criteria
that
we
defined
for
a
digital
trade
document
solution
were
the
following.
The
solution
had
to
be
future
proof.
You
can
talk
about
standards
in
trade
or
in
any
business.
In
fact,
until
the
cows
come
home,
nothing
ever
will
get
done.
So
we
wanted
to
start
today,
so
it
had
to
be
a
solution
that
could
support
adoption.
Early
adoption
can
be
implemented
today.
It
is
also
future
proof.
Standards
is
not
a
destination.
It's
going
to
be
an
ongoing
process.
That's
why
it's
called
transformation.
B
Another
key
criteria
is
that
is
based
on
the
fact
that
if
you
look
at
just
that
the
number
of
networks
and
systems
involved
in
trade
processing,
it's
immense.
It's
it's
a
very
diverse
business
area,
back
office
systems,
portal
systems,
swift,
the
new
upcoming
dlt
based
trade
platforms.
We
trade
congo,
but
also
on
the
quarter
side.
Contour
marco
polo
there's
new
platforms.
Well,
almost
every
quarter.
B
There
is
a
new
platform
coming
out,
so
it
this
cannot
well,
it
could
continue,
but
ultimately
there
has
to
be
some
consolidation
and
the
key
thing
is
behind
those
systems
and
behind
those
networks,
there's
people
behind
it.
Those
people
require
documents.
They
require
documents
to
take
decisions
because
documents
trigger
cash
flow
documents,
trigger
release
of
goods,
etc,
etc.
So
it
would
be
unthinkable
that
if
you
think
about
what
dhl
and
fedex
or
ups
what
they
do
today,
they
are
currently
the
physical
couriers
in
in
the
document
world.
B
Imagine
they
would
say
I
can
only
send
a
document
to
a
customer
that
I
have
on
board
and
do
my
platform.
That's
not
gonna
work,
so
it
has
to
support
full
interoperability.
There
should
be
the
limits
that
exist
in
the
physical
world,
which
there
are
no
limits
in
terms
of
sending
letters
with
documents.
We
should
apply
the
same
criteria
in
in
the
digital
world.
B
Another
key
criteria
is
that,
if
you,
of
course
make
it
open,
one
of
the
challenges,
of
course,
is
if
you
do
not
process
a
document
inside
a
closed
environment
and
control
identity,
where
it
can
control
security.
You
immediately
have
a
challenge
that
you
say
well.
How
am
I
going
to
check
whether
this
document
has
not
been
tampered
with?
How
can
I
check
its
originality?
B
B
They're
scanning
documents?
They
are
typically
using
swift
file,
act
to
send
them
from
one
bank
to
the
other
and
they're,
sending
an
authenticated
swift
message
to
confirm
that
the
documents
are
truly
original
and
authentic
documents.
So,
and
what
happens
then
afterwards
is
that
the
bank,
who
are
the
recipients
they
start
making
phone
calls
to
confirm
whether
documents
send
or
actually
really
originals,
and
they
even
want
to
check.
Can
I
find
the
name
of
the
person
who
sent
it
so
in
today's
world
of
technology
that
looks
a
bit
archaic,
so
what
is
required?
B
If
you
want
to
freely
transport
digital
documents,
you
should
have
a
neutral
service,
digital
notary
service,
which
is
able
to
prove
data,
integrity,
originality
and
ownership.
So
a
24x7
public
digital
notary
service
is
required.
Typically,
for
that
purpose,
a
dlt-based
notary
service
is
probably
most
suitable.
B
B
A
key
point,
of
course,
is
the
digital
document
needs
to
provide
a
configurable
schema,
because
we
want
to
use
that
digital
container
efficiently
to
trigger
other
cross
processes
and
trade
data
flows
to
at
least
20.
If
you
look
at
the
letter
of
credit,
there's
on
average
about
20
parties
involved,
you
can
imagine
the
flow
of
that
data,
which
is
often
the
same
data.
B
It
should
be
possible
to
have
api
connectivity
between
those
players
and
actually
reuse
the
source
data
as
much
as
possible
based
on
stp
process.
This
is
quite
technical.
I
won't
lose
too
much
time
on
this,
but
you
probably
all
know
about
the
trustover
ip
foundation
project
which
has
been
kicked
off
whereby
digital
identity
becomes
portable.
B
We
have
to
focus
on
end
user
benefits.
What
are
those
end?
User
benefits
the
most
obvious
one
in
covid
times,
and
especially
in
trade
very
relevant?
It
is
really
silly
if
someone
cannot
collect
his
goods
or
go
to
the
port
or
go
to
the
airport,
because
he
has
not
received
his
bill
of
lading
and
and
is
able
to
use
that
document
of
title
to
to
to
request
delivery
of
those
goods.
So
for
business
continuity
purposes,
there
should
be
no
dependency
on
physical
delivery
and
scanning
of
documents.
B
Another
key
benefit.
If
the
criteria
that
I
previously
defined
are
respected,
a
user
should
not
have
to
join
a
specific
platform
to
participate
in
a
digital
document
exchange.
There
are
simply
too
many
participants
in
a
documentary
flow
who
think
that
you
are
able
to
create
one
system
globally
across
all
industries
to
solve
this.
B
So
you
need
to
come
up
with
an
approach
whereby
digital
documents
can
flow
through
all
the
existing
infrastructures,
but
where
you
have
a
neutral,
digitally
no
notary
service,
you
can
check
authenticity,
originality
and
ownership
very
important
in
the
design
of
our
solutions,
and
when
we,
when
we
built
our
our
solution,
it
says
it's
so
key.
We
have
to
create
a
digital
experience.
B
Generating
a
digital
document
is
extremely
easy.
That
is
not
the
objective
and
that's
why,
at
the
top
right
corner,
you
see
an
iceberg.
Why
the
iceberg,
because
digital
documents
are
just
the
tip
of
the
iceberg.
The
real
value
lies
in
the
optimization
of
the
business
processes,
the
use
of
the
rich
data
around
those
digital
documents
to
make
process
more
efficient,
typically
in
a
collaborative
way,
because
trade
is
an
extremely
collaborative
business.
One
example
that
you
will
see
when
we
do
the
actual
demonstration
there's
going
to
be
a
demonstration
of
a
system.
B
B
B
This
is
yeah,
I'm
not
gonna.
What
we've
tried
to
to
to
to
clarify
from
this
diagram
is
this
is
more
or
less
what
happens
in
trade
if
someone
generates
a
document
on
the
left
side,
because
a
document
starts
from
data
typically
put
in
pdf
printed,
etc,
and
it
goes
to
an
entire
flow,
but
on
the
receiving
side
you
use
ocr
and
artificial
intelligence
to
get
that
data
back
out
of
that
piece
of
paper
and
start
pressing
the
convent.
So
that's
the
typical
flow.
B
B
I've
used
those
color
codes,
let's
start
with
the
black
ones,
the
black
ones
why
they
become
redundant?
Why?
Because
preparing
of
mail
putting
stuff
into
an
envelope
scanning
it
then
to
keep
a
copy
of
the
signed
version
on
the
receiving
side
again
the
mail
room
scanning
it
all
of
that
disappears
the
infrastructure.
B
Let's
move
to
the
green
part
in
the
physical
world,
the
couriers,
the
physical
couriers
are
the
are
the
channel,
they
are
transporting
they're,
taking
delivery
of
a
document
and
they
are
delivering
it,
hopefully
to
the
right
person
at
the
door
of
of
the
right
company
to
the
right
person.
So
it's
quite
a
tricky
process.
If
you
think
about
it,
that's
the
competition,
a
piece
of
paper
going
from
one
part
of
the
world
to
the
other,
the
delivery
in
the
digital
world,
and
that's
why
I
say
it's
low
friction.
B
We
should
be
able
to
use
all
infrastructure
that
exists
today.
So
if
some
people
want
to
use
swift
fire
like
to
send
digital
documents,
why
not
you
can
perfectly
do
that
if
you
want
to
send
it
over,
we
trade.
If
so,
if
someone
wants
to
upload
a
digital
document
and
get
it
across
and
you
have
interoperability
potential
with
another
blockchain,
why
not?
It
should
be
perfectly
possible.
B
That's
why
it's
called
low
friction.
You
should
not
have
to
on
board
everyone
to
the
same
platform.
So
all
the
existing
infrastructure
can
be
reused.
The
two
remaining
colors,
let's
start
with
the
blue
blue,
is
where
we
have
worked
with
our
partner
and
it's
one
solution.
I'm
not
saying
this
is
the
only
solution,
but
it's
a
it's
a
dlt
based
solution,
a
digital
notary
for
that
we
are
integrating
with
and
the
solution
is
provided
by
our
partners
in
edio
and
the
solution
is
called
trace
original.
What
do
they
do?
B
It's
actually
quite
simple,
and
sometimes
the
best
things
in
life
are
simple.
Instead
of
printing
to
a
to
to
a
printer,
they're
printing
to
a
digital
file,
they
are,
of
course,
can
integrate
with
digital
signature
software
at
signicat
or
anything
else.
It
doesn't
really
matter,
that's
open
and
on
the
receiving
side
they
are
providing
verification
mechanisms.
There
is
a
public
ledger
which
stores
hashes
and
technical
reference,
and
that's
the
digital
notary.
It
does
not
have
to
be
run
by
by
by
ego
we're
looking
at
other
parties,
typically
chambers
of
commerce.
B
Let's
say
if
you
talk
about
certificates
of
origin
or
in
certain
countries,
guarantees
chambers
of
commerce
could
be
perfect
institutions
to
be
a
digital
notary
to
certify
certificates
of
oil,
for
example.
So
and
the
orange
part,
that's
where
the
back
office,
the
portal
vendors,
the
business
intelligence,
vendors,
come
in
the
transaction
engines,
those
who
process
the
content,
convert
the
content,
provide
the
business
rules
around
and
that's
typically,
something
which
china
system
does.
But
we've
integrated
this
with
our
partner
inigio
and
we've
gone
fully
digital.
B
The
next
slide,
I'm
going
to
skip
this
one.
If
I
have
enough
time,
I
will
explain
this
at
the
end,
because
this
is
our
vision,
I
think,
of
what
we
see
how
standardization
in
trade
should
be
really
tackled,
but
I'll
keep
that
one
for
the
end.
If
we
still
have
time
this
is
the
one
I
think
the
last
one
I
want
to
show
to
you
before
I
start
talking
about
the
demonstration.
B
It
looks
like
a
complex
slide.
I've
written
an
article
about
to
try
and
explain
it,
but
it's
actually
fairly
simple
again
at
the
top
of
this
diagram.
You
see
what
happens
today.
Physical
documents
here
you've
got
some
of
your
actors.
I
couldn't
get
more
on
this
slide
because
you've
got
chamber
of
commerce,
but
these
are
the
typical
actors
or
participants
to
a
trade
document
flow
and
there's
many
of
each
of
those
yeah.
These
are
the
corporates,
the
smes
etc.
B
Those
physical
documents
today
are
sent
by
couriers
across
all
those
parties
from
one
to
another
in
a
typical
you'll,
see
at
least
four,
sometimes
five
or
six
participants
in
the
digital
world
and
behind
all
those
those
parties.
They
are
running
all
those
systems,
erp
systems,
trade,
contract
platforms,
trade
portals
document,
registries,
the
where
the
warehouse
receipts
go
where
the
certificates
of
origin
go,
the
trade
back
of
the
systems
like
like
like
china
systems
swift,
then
you
have
the
networks
that
are
there.
B
B
Digital
documents
need
to
be
portable
across
the
platform
and
what
the
key
thing
is
that
you're
actually
transporting
the
business
data,
so
the
digital
container,
the
equivalent
of
a
paper
document,
needs
to
contain
two
big
portions.
The
business
data
to
satisfy
the
needs
of
all
the
systems
and
then
hashes
and
technical
references
which
enable
a
neutral,
dlt-based
notary
service
to
actually
and
make
the
exchanges
secure
the
proof
of
ownership.
The
proof
of
originality
would
prove
a
date
integrity.
So
on
the
ledger,
the
ledger
does
not
store
one
single
character
of
business
data.
B
The
content
is
hashed.
If
you
have
this
in
place
and
that's
what
we
show
in
the
demonstration
you
can
have
apis
in
place,
you
just
need
to
pervade
an
api
to
their
system.
They
interact
with
the
digital
notary,
the
public
service
to
verify
ownership,
verify
originality,
create
proof
of
ownership,
transfer
ownership,
because
transfer
of
ownership
is
one
of
the
key
things.
Of
course.
How
do
you
know?
Who
is
the
owner
of
the
document
in
the
physical
world?
Most
of
the
time
know
it
because
it's
very
easy
to
create
copies
in
this
situation.
B
We
can
have
copies,
but
there
can
only
be
one
owner,
so
this
api
service
interacts
with
this
dlt
based
note,
research.
I
won't
go
into
portable
visual
identity.
This
becomes
another
facilitator
of
this
process,
but
I
want
to
get
to
the
demonstration
as
quickly
as
possible
the
demo
scenario
that
I
will
be
showing
it's
it's
quite
business
oriented.
B
B
Because
in
ifa
the
focus
is
actually
on
digital,
negotiable
instruments,
bills
of
exchange,
promissory
notes,
because
those
are
very
powerful
instruments,
also
documents
of
title
bill
of
lading.
The
challenge
with
those
documents
is
that
the
number
of
participants
and
the
legal
implications
are
much
bigger.
The
advantage
of
a
digital
guarantee
is
especially
a
direct
one.
You
only
have
three
involved
parties,
an
applicant,
typically
an
issuing
bank
and
a
beneficiary.
B
Where
are
these
guarantees
used?
Typically
at
a
domestic
level?
It's
very
big
business
and
it's
all
paper-based.
It's
typically
used
in
countries
where
the
government,
for
example,
if
you've
got
construction
companies
or
infrastructure
companies
doing
big
infrastructure
projects.
The
government
will
often
ask
those
companies.
Can
you
provide
me
with
a
guarantee
for
those
activities,
a
performance
guarantee
or
performance
bond
typically,
and
a
bank
would
typically
issue
it.
B
So
a
bank
will
take
the
liability
of
this
construction
company
and
guarantee
to
the
government
that
they
are
that
they
are
good
for
for
the
value
of
that
project.
So
this
is
what
we'll
be
demonstrating.
The
first
flow
we'll
be
focusing
is
on
the
issuance
process
and
in
the
issuance
process
a
guarantee
is
actually
physically
in
the
physical
world.
It's
changing
owner
from
the
bank
to
the
beneficiary.
B
So
what
we
are
doing
is
we
are
digitizing
or
digitalizing,
this
transfer
of
ownership-
and
there
is
the
digital
notary-
will
be
able
to
verify
whether
this
guarantee
is
actually
real
and
authentic.
In
the
second
part
of
the
demonstration
we're
illustrating
we've,
we've
shown
we
can
do
more
than
just
create
a
digital
document.
B
We've
also
digitized
all
the
subsequent
processes
of
the
digital
guarantee,
because
a
digital
guarantee
can
typically
be
claimed,
but
in
many
cases
it
does
not
happen.
Those
are
very
long
life
cycle
instruments.
What
usually
happens
is
they
can
sit
in
a
filing
cabinet
for
20
years
and
nothing
happens
only
when
the
party
does
not
perform
typically
a
claim
or
a
demand
request
takes
place.
So
this
is
the
flow
that
I
will
be
illustrating
in
the
demonstration
the
key
parties
are.
B
B
This
is
a
slide.
I
I've
included
this
one
because
it
gets
you
in
the
right
mindset
and
it
allows
you
to
focus
on
what
is
the
objective
of
the
demo,
because
what
something
I've
not
said
yet
is
I've
talked
about
digital
containers,
but
this
is
actually
really,
and
I've
done
this
mainly
for
business
people.
How
do
you
control
the
transfer
of
ownership
and
it's
based
on
pki
infrastructure?
B
So
I've
used
some,
it's
quite
a
colorful
slide,
but
you
look
at
I've
used
a
vault
for
a
safe
to
illustrate
the
concept
of
the
notary.
It's
not
probably
the
best
of
comparison,
but
it's
aimed
to
to
to
focus
on
the
security.
So
when
a
bank
creates
a
guarantee,
they
encrypt
this
guarantee
with
their
public
key.
So
in
terms
of
the
ownership
there
is
in
the
technical
section
of
the
digital
document,
there
is
a
public
key.
B
So
at
this
point
before
the
the
guarantee
moves
to
another
party,
only
the
issuing
bank
can
use
the
correspondent
private
key
to
decrypt
the
information,
so
public
private
key
infrastructure.
What
happens,
then,
if
you
want
to
change
the
ownership
of
a
digital
document
instead
of
using
a
courier
service,
what
you're
doing
is
you're
communicating
with
the
beneficiary
and
the
beneficiary
has
to
provide
its
public
key?
Typically,
what
we
do
in
the
person.
B
You
will
see
that
when
the
beneficiary
sees
the
guarantee
to
accept
it
when
he
says
yes,
this
is
the
guarantee,
and
I
agree
to
it.
He
provides
his
public
key
and
at
that
point
the
bank
will
encrypt
the
digital
document
with
the
public
key
of
the
beneficiary
and
that
public
key
then
gets
subsequently
in
the
technical
section
of
the
digital
document
gets
replaced.
B
The
owner
key
now
becomes
the
key
of
the
beneficiary
from
that
moment,
on,
only
the
beneficiary
has
the
correspondent
private
key
to
actually
to
open
the
vault
and
prove
I
am
the
only
owner,
even
if
this
someone
else
is
a
copy.
The
private
key
proves
that
he's
the
owner.
So
that's
a
short
explanation,
but
you
will
see
that
in
the
demonstration
so
now
the
actual
demonstration
something
about
this.
This
was
a
much
longer
demonstration
in
it
was
originally
about
16
minutes.
B
I've
now
reduced
it
to
11
minutes
to
respect
the
time
frame
that
I
was
given.
So,
instead
of
showing
you
the
full
flow,
we
have
reduced
it,
but
the
system
you
will
see
the
exam
builds
back
of
the
system
that
you
will
see
is
the
same
one
that
we
use
to
issue
swift
guarantees
is
the
same
one
that
we
use
to
issue
paper,
guarantees
and
digital
guarantees
from
a
user
point
of
view,
it's
fully
transparent
for
him.
B
He
does
not
even
know
whether
he,
what
type
of
guarantee
he's
issuing
I'm,
also
skipping
the
the
part
of
the
flow
where
we
show
you
how
to
define
the
guaranteed
templates.
If
there's
business
people
in
there,
we
can
always
do
a
follow-up
session.
For
you
to
say
how
do
you
generate
those
digital
guarantees?
B
We've
got,
of
course,
an
editor
for
technical
people.
This
is
all
given,
but
I'm
skipping
that
step
as
well.
So
we've
also
skipped
the
portal
interaction
because
a
guarantee
starts
from
an
applicant.
Typically
a
corporate
or
an
sme
I've
skipped
this
part,
so
the
entire
drafting
process,
I'm
sure
the
people
from
bolero
will
know
this.
The
drafting
process
between
the
applicant
and
the
bank,
I'm
skipping
that
part
as
well,
because
it
makes
the
demo
too
long
and
a
bit
too
heavy
on
the
business
side.
B
B
B
B
So
we
start
the
process
by
selecting
the
guarantee
reference
on
the
back
which
1047
I'm
going
to
issue
it.
Like,
I
said
all
the
data
is
there
I'm
just
quickly
going
to
run
through
it
the
details
of
the
guarantee,
all
the
wording,
which
is
the
template
commissions,
information
just
gonna
change.
It
quickly.
B
And
this
is
for
the
pdf
die
hard.
This
is
not
the
digital
document
yet,
but
some
users,
especially
business
users.
They
want
to
see
a
pdf
file.
So
if
you
want
to
see
a
pdf
file,
we
can
give
them
a
pdf
file,
but
it
is
not
the
original
document.
This
is
just
a
template,
a
mapped,
a
simple
mapping
exercise
into
pdf,
I'm
going
to
release
this
guarantee
now
and
that's
the
first
time
or
the
first
time
we
use
our
apis
with
the
trace
original
technology.
B
I'm
going
to
sort
by
new
look
for
transaction
reference,
1047.,
I'm
going
to
pick
it
up
and
supervise
release
this
transaction.
I
can
start
reviewing
all
the
data,
but
I'm
not
going
to
waste
my
time
on
that
that
business
data
we
can
do
a
deep
dive
session
if
you're
really
interested
in
this.
But
I'm
going
to
confirm
this.
What
happens
now
is
the
moment.
B
I
confirm
this
transaction
instead
of
something
printed,
something
going
to
swift
it
creating
a
record
on
the
full
node
of
trace
original,
and
we
also
at
the
same
time,
send
an
email
notification.
It
could
be
through
other
channels.
What
we've
done
is
the
lowest
friction
possible,
an
email
to
the
beneficiary,
the
swedish
government.
B
So
the
swedish
government
gets
immediately
a
notification
of
this
issued
guarantee
in
their
favor.
It's
just
a
notification.
They
can
check
whether
this
is
real,
because
the
notary
can
already
do
its
work.
What
we've
created
here
is
this:
is
our
dock
viewer?
It's
our
digital
document
viewer
we've
created
sort
of
a
user
interface.
On
top
of
this
to
view
the
data
in
a
structured
format.
B
These
are
the
parties,
the
applicant,
the
beneficiary,
the
guarantor
which
is
a
bank
and
then
more
structured
information.
In
the
agreement
terms,
this
is
all
data
we
can
use
for
stp
purposes.
Also,
the
corporate
the
beneficiary
or
the
swedish
government
can
use
this,
and
here
you
can
see
already
something
we've
done.
We've
made
truly
digital
we've
put
secure
tokens
in
place
to
also
trigger
additional
business
processes
in
a
digital
way
on
this
guarantee,
which
is
normally
a
piece
of
paper
where
you
send
paper.
If
you
want
to
do
something
with
it.
B
B
So
this
is
a
secure
token.
So
this
is
a
secured
page.
There
is
a
direct
interface
into
the
back
office
of
exit
builds.
Our
back
office
will
receive
this
message
and
we
will
have
an
stp
process
in
place
where
we
automatically
transfer
the
ownership
and
replace
the
owner
key
on
the
notary
service.
So
immediately.
B
B
B
I'm
now
going
to
download
this
guarantee
and
you're
just
going
to
see
this
in
notepad
yeah.
This
is
what
it
looks
like
in
notepad.
The
digital
guarantee.
There
is
a
structured
adjacent
schema
inside
the
techies,
understand
that
much
better
than
I
do,
but
this
is
typically
where
you
can
use
your
stp
engine
and
then
there's
a
human
readable
part
of
in
the
guarantee
which
is
down
below.
B
B
The
next
part
I'm
going
to
do
now
is
typically
well.
Usually
nothing
happens
with
this
guarantee.
It's
simply
filed
for
many
many
years,
but
I'm
now
going
to
execute
a
claim
now
the
bank,
if
a
bank
receives
a
claim,
of
course
the
bank
has
to
make
sure
that
the
party
who
does
the
claim
can
prove
that
he's
authorized,
that
he's
actually
the
holder.
So
I'm
now
going
to
show
you
we've
not
we've
not
integrated
this
with
an
api
yet,
but
this
is
the
this
is
the
dlt
ledger.
B
This
is
the
trace
original
ledger,
and
here
you
have
all
the
functions
that
allow
you
to
actually
interact
with
the
ledger.
So
what
I'm
going
to
do
is
I'm
going
to
create
a
proof
of
ownership
in
the
next
version.
You
have
an
api,
so
I've
now
uploaded
the
guarantee
and
the
system
says
yes,
it
is
an
exact
copy
of
the
current
digital
original.
Why
does
it
say
copy?
B
Because
everyone
can
have
there's
multiple
people
and
have
a
copy?
The
only
original
will
be
based
on
the
private
key
yeah.
So
that's
why
it
says
it's
a
copy
of
the
digital
original.
So
it
does
a
content,
hash
check.
It
does
not
check
the
owner
key,
yet
the
owner
key
check
will
be
in
the
next
step.
The
verify
ownership.
B
So
here
the
owner
has
to
enter
his
private
key
and
that's
the
key
to
the
kingdom.
If
you
can
prove
that
you
are
the
holder
of
the
private
key,
I
will
give
you
access
to
the
claims
page.
So
we
will
be
uploading
this
proof
of
ownership
to
the
digital
claims
page
again
in
the
next
version.
This
will
be
all
api
driven,
no
user
intervention
on
this
yeah,
so
I'm
showing
in
our
manual
it
happens.
B
So
I've
now
downloaded
the
proof
of
ownership
and
if
you
remember
in
the
next
part
of
my
demo,
I
was
going
to
do
the
digital
claim,
but
only
the
party
that
is
the
owner
of
the
guarantee
should
be
authorized
to
do
this
claim.
So
I'm
going
back
to
my
claims
page-
and
it
says-
drop
your
proof
of
ownership
file
here.
B
B
It
will
give
you
access
to
a
secure
again,
digital
token,
a
secure
page
here
where
we
can
actually
provide
data
on
the
guarantee.
As
you
can
see,
the
reference
is
at
the
top
10
47.,
I'm
going
to
speed
up
the
data
entry
a
little
bit,
because
this
is
swift,
compliant
in
fact
already
with
the
2021
standards.
We
can
also
do
checks
against
the
maximum
amount
for
the
claim,
because
we
know
what
guarantee
it
is
about.
So
I'm
quickly
going
to
enter
all
the
other
data
and
submit
this
claim.
B
So
this
is
again
a
page:
it's
not
a
portal.
This
is
just
a
secure
token
url,
which
will
push
this
data
straight
into
the
exam
builds
back
office
and
we
can
generate
a
notification
to
the
back
of
this
user
yeah.
This
is
my
account
now.
You
know
who
my
bank
is
well,
so
I'm
going
to
submit
this
claim
it
was
registered
successfully.
B
At
this
point,
I'm
going
back
into
our
back
office
system,
but
what
our
back
office
is
done
in
real
time
as,
if
you're
supposed
to
do
the
digital
world,
we're
immediately
confirmed
to
the
swedish
government.
We've
received
your
demand
request.
All
the
data
you
saw
entered
on
that
page
is
now
automatically
put
into
an
email,
so
at
least
the
swedish
government
knows.
Yes,
the
bank
is
working
on
this
they're
doing
something
I
will
now
go
into
the
last
step
of
the
process.
B
Go
back
into
the
back
office
and
I'll
show
you
what
has
happened
with
this
guarantee,
because
I
did
not
use
the
system
that
much
there's
been
a
lot
of
things
happen
behind
the
scenes
in
stp
mode.
So
if
I
take
my
guarantee
1047
there's
about
five
five
steps
on
the
guarantee,
which
are
the
five
same
steps
in
the
manual
world,
the
swift
world
as
the
digital
world,
it's
an
application.
B
B
B
B
If
I
go
to
the
demand
details,
pay
or
extend
the
demand
type,
all
the
data
that
was
entered,
the
user
can
simply
review
it
and
he
can
go
to
his
decision
process
where
he
can
say
I'm
gonna
honor.
This
claim
I'm
refusing
the
claim
or
I'll
enter
into
negotiations
with
applicant
and
beneficiary
on
the
claim.
B
B
If,
if
I
can
give,
maybe
one
minute
I'll,
probably
explain
this
slide
and
then
we
start
with
questions
I'd
like
to
share
still.
This
is
then
I'll
stop
talking
here.
This
is
sort
of
our
view
and
it's
actually
a
message
to
the
dsi.
The
digital
standards
initiative
there's
a
lot
of
activity
going
on
in
trade
messaging
standards,
but
there
is
one
big
risk
that
everyone
is
talking
about
being
customer-centric.
B
Now,
if
we
are
truly
customer-centric,
then
we're
talking
about
in
trade.
It's
the
smes,
it's
the
corporates,
because
every
trade
transaction
does
not
start
with
a
bank.
It
does
not
start
with
an
insurer.
It
does
not
start
with
with
a
piece
of
technology.
It
starts
with
a
trade
agreement
between
two
parties,
and
I
know
bolero.
B
It
starts
all
with
a
purchase
order
or
a
sales
order
between
two
parties,
the
two
key
documents
in
trade
which
which
everything
else
comes
out
of
those
two
documents.
It's
a
purchase
order
and
an
invoice
whatever
trade
business,
whether
it's
open
account,
whether
it's
lcs,
whether
it's
collections,
whether
it's
supply
chain
finance,
they
have
something
in
common,
a
purchase
order,
an
invoice
and
a
settlement.
B
B
I'm
not
saying
that
it's
not
an
approach
that
will
not
work,
but
if
you
really
are
customer
centric,
you
you
tackle
it
from
the
source
because,
in
my
opinion,
all
trade
finance
all
supply
chain,
finance,
all
settlement
services,
financing,
service,
reconciliation,
insurance,
risk
distribution,
transport,
logistics,
certifications,
it's
all
services
that
are
offered
on
top
of
this
core
trade
data
set
yeah.
It's
remarkable
that
in
the
world
of
e-invoicing,
some
people
may
know
this
terminology
a
po
flip,
a
purchase
order
flip.
B
B
It's
a
smart
contract
around
purchase
order,
data
yeah
same
thing
for
invoices.
The
same
thing:
a
shipment
instruction
is
again
something
which
can
start
from
a
flip
yeah,
a
a
an
invoice
flip
or
or
or
a
purchase
sort
of
flips.
So
it's
based
on
the
concept
that,
if,
if
digitization
really
looks
at
the
core,
we
should
the
industry
should
define
a
core
trade
document
data.
What
is
the
common
denominator
for
this
source
data
and
start
from
there,
and
based
on
that,
you
can
actually
via
apis
insurance
should
be
a
service.
B
Finance
is
a
service
settlement?
Is
a
service
yeah.
Even
logistics
is
a
service
offered
on
a
trade
contract.
That's
what
we
see
as
as
as
the
really
a
customer-centric
approach,
take
a
look
at
accounts
payable
and
accounts.
Receivable
take
a
real
customer
view
and
all
the
products
that
come
out
of
it:
bank
payment
commitment,
bank,
payment
undertaking,
dlpc
epu,
the
bill
of
exchange.
A
A
There
is
actually
another
document
which
is
pretty
fundamental
in
international
trade
transactions,
which
is
the
bl
bill
of
leading
yeah.
It's
a
real
headache.
Believe
me,
when
you
literally
you
have
to
deal
with
transactions.
You
have
so
many
aspects,
legal
aspects,
so
many
embarrassing
aspects.
Yeah
everybody
asks
for
that.
Whether
you
deal
with
lcs,
where
you
deal
with
openings.
B
The
legal
aspects
are
often
a
consequence
of
of
the
interpretation
of
data
on
a
specific
platform
yeah,
because
the
moment
you
start
defining
a
let's
say,
a
central
repository,
whether
it's
a
dlt-based
or
a
non-dlt
based
the
moment,
you
start
defining
a
semantic
model.
You
have
to
sort
of
say
what
does
this
data
really
mean
in
the
business
world?
B
What
will
happen
is
if
the
nine
types
of
bill
of
lading,
if
they
manage
to
define
a
common
denominator
yeah
across
those
nine
types,
the
secret
sauce
and
the
rule
books-
will
eventually,
in
my
opinion,
disappear.
Why?
Because
you
do
not,
if
there
is
a
common
understanding
of
what
data
is
from
a
legal
point
of
view,
then
you
do
not
need
the
rulebook,
specific
approach
based
on
one
ecosystem.
A
B
B
B
The
reality
is
that
is
that,
like
I
said
you
know,
if
you
create
a
vertical
solution
in
a
specific
industry,
maybe
that
approach
will
work,
but
everyone
will
know
I've
been
in
trade
now
for
32
years,
I've
seen
many
come
and
many
go
and
some
have
survived,
but
still
the
critical
mass
has
not
been
achieved.
Why
not?
Because
this
is
a
far
too
competitive
space
yeah.
B
There
is
a
better
way
where
you
say:
let's
accept
the
competitive
aspects,
because
there
are
thousands
millions
of
people
behind
all
those
systems.
How
can
you
adopt
an
infrastructure?
Will
you
mimic
the
physical
flow
of
a
document
where
a
document
can
digitally
flow,
but
you
can
start
using
digital
identity
across
that
as
an
ongoing
project,
but
you
can
use
a
digital
notary
which
could
be
used
by
any
of
those
systems
to
prove
originality,
integrity,
authenticity
and
ownership.
A
I
perfectly
agree:
maybe
you
I
wasn't
clear
enough
to
have
a
sort
of
double
channel.
That's
what
I
I
was
meaning
you
have
to
create
physicality
and
digital
world.
You
know
work
in
in
peril
in
this
energy.
That's
my
understanding.
You
cannot
escape
from
a
really
purely
physical
world,
such
as
trade
is
nowadays.
A
B
Hybrid
world
correct
but,
like
I
said
from
our
application
the
moment
you
know
we
for
us,
it's
no
extra
work.
The
digital
notary
actually
creates
low
friction.
Why?
Because
there's
no
business
data
the
moment
you
offer
a
public
service,
then
you
get
into
permissions,
you
get
into
all
sorts
of
complexity
and
that's
why?
Why
are
all
the
blockchain
platforms?
Why
are
they
so?
Why
is
so
difficult
for
them
to
create
critical
mass?
Because
trade
is
so
much
intertwined
with
that
physical
document,
but
you
can
create
a
digital
one
here
I
have
digital
delivery.
B
I
call
it.
I
go
from
physical
to
digital
delivery,
so
there's
a
file
there's
a
file
being
transported
digitally
through
existing
infrastructure,
apis
swift
connectivity
host
to
host
connectivity,
but
this
is
the
neutral
dlt
based
service
that
everyone
can
use.
Everyone
is
verifying
the
truth.
This
is
where
the
truth
lies,
but
it's
a
technical
verification
process.
The
business
data
still
flows
here.
B
B
B
I
hope
I've
not
lost
too
many
people
joel
it's
ross
ross
from
bolero.
Could
I
ask
you
a
question
sure
sure
you
know
the
like
the
end
game
is
is
not
necessarily
what
we
see
in
front
of
us
and
we
have
good
technology
and
the
key
players,
but
have
you
put
this
in
front
of
say
some
of
the
more
the
ones
that
sort
of
become
the
barriers
at
the
end
like
regulatory
entities?
You
know
governments,
customs,
those
type
of
players
we'll
have
our
first.
Thank
you.
B
It's
a
very
good
question
ross
because
that's
indeed
we
are
like,
I
said
we
can.
We
can
theoretically
fantasize
about
what
technology
can
do,
but
that's
we're
not
really
interested
in
that.
Yet
china
systems
we're
not.
We
are
the
first
vendor
who
actually
put
this
into
reality.
But
our
approach
is
like
this:
we
prove
what
the
technology
can
do.
We
have
the
vision.
Now
we
have
to
prove
it
and
you're
right.
The
barriers
are
there,
so
we're
having
our
first,
because
this
is
all
quite
recent
yeah.
This
has
been
done
quite
recently.
B
In
a
specific
jurisdiction
and
with
guarantees,
you
have
actually
because
the
guarantee
is
the
legal
document
and
we'll
be
testing
it
in
a
specific
country
and
with
a
a
number
of
banks
involved
and
a
chamber
of
commerce,
and
it's
a
country
typically
where
the
government
and
the
chamber
of
commerce
and
the
bank
are
all
quite,
I
would
say
they
have
quite
a
close
relationship,
so
we're
trying
to
create
the
lowest
barriers
possible
because
indeed
the
moment
you
start
going
into
legal
aspects.
Let's
be
honest:
everyone
has
a
business
behind
this.
Bolero
has
a
business.
B
B
If
you
look
at
what's
happening
in
the
industry,
you
can
try
to
protect
your
business
as
long
as
you
can
and
it's
normal
china.
We
also
have
a
retention
strategy.
We
have
quite,
we
have
more
than
120
customers,
so
we
have
to
make
sure
that
we
can
keep
doing
those
customers
business.
However,
the
world
is
moving
in
this
direction,
open
standard
so
and
yes,
the
law
is
still
a
challenge.
B
There
is
a
risk
that
you
get
a
specific
flavor
of
a
certain
standard
and
that
would
in
me
my
opinion,
be
wrong
to
do
standards.
You
need
a
digital
container,
an
open
standard.
It
should
be
technology
independent,
although
I
am
the
first
one
to
agree
that
distributed
ledger
technology
is,
is
the
most
suitable
technology
for
for
trade,
because
you
have
so
many
participants,
but
you
need
to
get.
B
B
B
B
The
market
will
will
show,
but
I'm
a
true
believer
that
the
competition
should
be
of
the
service
if
we
really
care
about
these
people,
and
these
people
are
really
the
owners
of
the
trade
business.
If
you
really
care
about
these
people,
we
should
go
for
open
standards
and
compete
on
the
service,
not
on
the
standard.