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From YouTube: Documentary Trade’s Digital Rebirth
Description
A presentation at the Hyperledger Trade Finance Special Interest Group on October 19, 2021 by Joel Schrevens, Global Solution Director at China Systems, demonstrating use of DLT for Digital Trade Documents.
To learn more about the Trade Finance Special Interest Group, visit: https://wiki.hyperledger.org/display/TFSIG/
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A
A
B
Thank
you,
andrea.
Yes,
we
have
about
an
hour,
so
a
quick
introduction
to
myself.
So
my
name
is
joel
stravens,
I'm
solutions
director
of
china
systems
and
I'm
also
heading
the
trade
digitalization
services
unit
in
china
systems.
Today's
presentation,
as
andrea
already
mentioned,
your
documentary
trades,
digital
rebirth,
or
at
least
one
variation
of
it,
because
there
will
be
many
before
I
actually
start
the
actual
system
presentation
which
will
take
about
half
an
hour.
B
B
We
definitely
want
to
make
more
than
just
the
statement.
We
want
to
design
that
vision.
So
everything
we
do,
we
will
always
accompany
it
with
an
actual
presentation
showing
how
we've
interpreted
what
we
consider
to
be
digital
trade.
So
we
really
consider
how
do
we
make
it
part
of
china
systems
value
proposition?
B
This
is
what
happens
every
day,
millions
of
times
in
trade
people
creating
content
on
the
screen
printing,
it
print
job
going
to
the
printer
mail
room
involved,
truck
picking
it
up
from
truck
to
distribution,
center
distribution
center
to
plane,
truck
again
delivery,
ultimately
getting
into
someone's
mail
room
scanning
it
trying
to
extract
data,
meaningful
data
to
convert
the
content
back
into
something
that
people
can
work
with.
So
this
constant
cycle
of
screen
to
screen,
but
via
many
steps
in
between
so
data,
is
going
from
structure
to
unstructured
and
back
to
structure.
B
So
we
have
to
do
what
we
can
within
the
boundaries
of
the
law.
Of
course,
to
actually
do
something
about
that,
and
that
is
what
we
want
to
do.
We
want
to
integrate
and
work
with
solutions
that
give
us
the
same
reach
as
what
you
see
on
top,
because
today,
physical
courier,
dhl
ups
fedex,
they
can
send
a
document
from
belgium
to
any
other
place
in
the
world,
so
the
reach
of
physical
couriers
or
the
reach
of
digital
couriers
should
not
be
any
different.
B
The
solution
provides
apis
to
allow
the
only
unique
owner
of
the
document
to
create
a
proof
of
ownership
which
allows
us
to
trigger
business
processes
based
on
that
ownership.
So
the
solution
is
compliant
with
uncertainty.
Tr
is
compliant
also
with
it.
First
digital
negotiable
instrument
initiatives
deduct
specifications
more
specifically
the
solution
that
we've
implemented
today
and
we're
not
excluding
that
there
may
be
more
solutions
in
the
future.
B
Also
imda
in
singapore
is,
from
a
conceptual
point
of
view,
very
similar
to
the
solution
we've
implemented,
but
the
demonstration
today
is
going
to
be
based
on
an
ego's
trace
original
digital
document
technology.
The
second
thing,
the
second
part
of
the
vision
and
it's
sort
of
it's
going
to
be
a
path.
It's
not
going
to
happen
overnight.
B
B
So
what
we
can
learn
from
travel
is
that
code-sharing
agreements
actually
provide
a
customer
with
an
end-to-end
integrated
journey
experience
whereby
I
can
check
in
my
luggage
at
the
origin
of
my
journey
and
pick
it
back
up
on
final
checkout.
I
show
my
passport
once
I
prove
my
identity
once
and
I
can
actually
enjoy
an
integrated
journey.
B
They
are
also
the
country
of
egypt's
advanced
cargo
information
system
which
exporters
need
to
upload
invoices,
packing
lists,
bills
of
lading
and
certificate
of
origin
mandatory
for
all
inbound
travel
into
each,
but
that's
a
small
anecdote
so
in
the
future,
and
I'm
not
going
into
detail
on
that
in
the
future.
We
also
expect-
and
there's
been
work
being
done
on
this.
B
Portable
digital
identity
is
going
to
be
the
second
big
part,
not
only
code
sharing
services,
but
then
also
being
able
to
use
portable
digital
identity
and
there's
a
project
going
on
w3c
the
worldwide
web
console
gym
with
decentralized
identifiers,
also
legal
entity
identifiers,
the
glaive
organization
is,
is
going
to
be
part
of
that
solution.
It
will
allow
us
to
actually
provide
proactive,
tbml
trade
based
modeling
laundering,
combat
techniques
instead
of
only
reactive
ones,
but
that's
not
the
topic
of
today's
meeting
the
business
case,
as
is,
let's
get
into
a
bit
more
detail.
B
This
is
the
business
case
that
we've
looked
at
where
we
said
this
is
a
paper-based
solution
today
it
has
some
benefit,
but
it
has
massive
weaknesses,
but
those
are
all.
Those
weaknesses
are
actually
based
on
only
one
thing
and
it's
the
paper
for
people
who
know
collections
documentary
collection.
This
is
the
flow.
It's
a
paper-based
procedure
where
banks
are
mainly
being
used
as
mailboxes
actually
to
control
the
exchange
of
documents.
Typical
exchange
is,
if
you
accept
this
bill
of
exchange
or
draft,
then
you
get
those
documents
they
can.
B
B
One
of
the
main
weaknesses
obvious.
I
don't
need
to
repeat
this.
You
must
be
tired
of
hearing
this
delays
on
transmission
of
paper
goods
arriving
before
documents
of
title
may
lead
to
additional
charge.
Demurrage
in
the
port,
it
could
be
cost
related.
Banks
issued
shipping
guarantees
etc
and
those
documents
of
title
there's
also
a
risk
of
them
being
intercepted
very
slow,
very
risky,
so
we're
moving
to
instant
payments
in
this
world.
B
Why
should
payments
related
to
trade,
be
any
slower?
There's
going
to
be
pressure
also
in
that
area,
to
move
to
instant
settlement,
instant
liquidity?
Why
do
you
have
to
rely
on
the
physical
bill
of
exchange
being
sent
between
three
four
parties
across
the
globe?
Actually
get
your
money?
It
does
not
really
make
sense,
so
the
business
case
digitally
re-engineered.
B
This
is
sort
of
the
summary
of
it.
We
want
to
optimize
a
paperwork
business
case
that
everyone
knows,
but
we
want
to,
of
course,
improve
it
without
those
documents
being
sent
right
without
people
being
physically
involved
in
processing
them.
So
definition
of
trade
trade
refers
to
exchange
between
parts
of
goods
and
services
against
money,
goods
against
money.
A
B
Thank
you
so
good
against
money.
We
said:
how
could
we
achieve
that?
How
can
we
satisfy
a
buyer
and
a
supplier
of
the
core
expectation
in
a
trade
transaction
goods
against
money
goods?
We
said
the
bill
of
lading
and
an
instrument
that
is
getting
a
lot
of
attention,
although
it's
not
you
know,
there's
airway
bills,
there's
there's
cmrs
there's
still
a
lot
of
other
transport
documents,
but
the
bill
of
lading,
of
course,
is
attractive
because
of
its
title
aspects,
money
or
money
is
equivalent.
B
It's
one
of
the
cases
that
was
submitted
to
the
uk
government
in
order
to
support
uk
exporters.
How
can
exporters
obtain
working
capital
in
the
fastest
way
possible
and
the
most
secure
way
possible?
This
is
one
of
the
three
cases
that
has
been
submitted
to
support
exporters
in
this
way,
so
creating
instant
liquidity
based
on
a
digital
re-engineer
product.
B
B
How
can
we
orchestrate
those
collaborative
workflows
between
our
solution,
which
is
mainly
a
back
office
bank
solution
and
also
a
corporate
front-end
solution,
which
is
not
a
must?
I
want
to
make
that
clear.
You
do
not
have
to
use
all
the
components
of
our
solution
on
the
corporate
connectivity
side.
There
are
a
lot
of
other
possibilities
out
there
reported
to
hook
into
the
solution
using
digital
signatures
or
seals,
of
course,
very
important
because
signing
of
documents
you
need
to
have
a
solution
which
allows
you
to
sign
those
digital
documents.
B
B
B
B
B
This
is
the
the
source
information
that
goes
to
the
customs
authorities
in
egypt
and
probably
a
lot
more
countries
in
in
the
future.
This
is
where
we
source
our
data.
It's
very
secure
because,
of
course,
kyc
the
last
point
which
you're
going
to
see
very
often
in
the
demonstration
real
time
updates.
Of
course,
it's
an
obvious
one,
increasing
productivity
and
the
overall
user
experience
and
interaction.
B
The
thing
here
on
the
right
at
the
bottom.
We
could
have
a
session
separately
about
this
one.
We
have,
of
course,
an
additional
motives
with
the
solution.
Builds
of
exchange,
promissory
notes
are
digital
trade
assets,
and
from
that
perspective,
they
offer
a
lot
of
potential.
A
lot
of
people
talk
about
payment
obligations.
These
days
could
be
bank
or
could
be
buyer
a
bill
of
exchange
or
a
promissory
note.
An
acceptable
exchange
permission
is
exactly
that.
There
is
a
huge
secondary
market
potential
for
this.
So
that's
why
I've
put
the
non-fungible
token
transformation
potential.
B
B
How
can
we
move
from
paper
to
digital
documents
on
a
workable
legal,
but
we
cannot
ignore
this,
so
we're
also
involved
to
the
maximum
extent
for
the
technology
vendor
in
in
building
the
case,
I
will
read
you
that
you
will
get
a
copy
of
this
presentation,
so
there
are
currently
a
number
of
approaches
out
there
and
I
will
explain
the
options
actually
the
next
slide,
but
for
us
we
are
not
going
to
wait
until
the
law
has
changed
in
every
single
plan
in
every
single
country
on
this
planet.
No,
we
have
to
be
proactive.
B
We
have
to
show
the
way
we
consider
that
as
part
of
our
responsibility
and
practically
yes,
you
know
this
is
digital
documents.
Are
there's
going
to
be
massive
resistance?
It's
going
to
take
decades
globally.
To
achieve
this,
maybe
even
it
will
be
never
be
achieved.
Well,
never
is
is
a
big
word,
but
for
us,
what
we
expect
to
happen
is
and
that's
what
we
will
be
targeting.
B
We
will
be
targeting
trade
chains
between
jurisdictions
with
an
active
digital
trade
agenda,
and
we
will
also
are
convinced
that
those
do
not
have
an
active
digital
trade
agenda
that
this
will
hurt
their
exporters
from
a
competitive
point
of
view
exactly
because
of
this
instant
liquidity
potential
of
digitally
re-engineered
solutions
which
you
will
see.
So
this
is
something
maybe
a
bit
yeah.
I'm
going
to
get
some
reaction
to
this
for
sure,
I'm
I'm
I'm!
This
is
probably
a
bit
controversial.
B
What
I'm
going
to
be
saying
now,
especially
what's
going
up
here
in
a
minute,
so
we've
asked
ourselves:
how
can
we
kick-start
adoption
of
digital
documents,
for
example,
because
of
a
change
in
promissory
notes,
option,
one,
one
that
everyone
knows?
Oh,
let's
come
up
with
a
rule
book,
let's
because
we
cannot
wait
till
the
laws
change
everywhere
and
I
can
understand
perfectly
the
approach:
let's
create
a
set
of
rules
for
parties
that
we
can
give
access
to
our
system.
B
If
you
want
to
offer
services
on
an
application,
it's
normal,
you
have
to
do
something,
so
this
is
an
obvious
way.
There's
nothing
negative
about
this,
apply
a
rulebook.
The
challenge
with
that,
of
course,
is
trade
involves
so
many
parties
simply
because
of
the
sheer
number
of
participants,
customs
of
properties,
inspection
agencies,
not
to
mention
the
buyers,
suppliers
and
the
banks
and
everyone
else.
You
need
to
on
board
all
of
the
parties.
B
Unless
there's
an
interoperability,
interoperability
solution,
option
two:
you
can
embed
contractual
wording
inside
the
instrument
and
that's
what
it
for
has
done
now,
as
as
as
a
as
an
immediate
solution,
we
have
embedded
with
the
help
of
sullivan
and
partners
to
embed
contractual
wording
inside
a
digital
container
which
replaces
or
acts
as
an
equivalent.
I
have
to
be
careful
with
my
words
of
a
bill
of
exchange
and
promissory
note,
but
with
embedded
legal
wording
inside
the
digital
container.
The
challenge
with
that
is,
it's
actually
meant
as
a
temporary
solution.
B
The
scope
at
this
point
is
uk
law,
which
means
it
may
resonate
in
commonwealth
countries,
but
not
all
over
the
globe.
Also,
since
the
wording
is
embedded
inside
the
document,
it
would
mean
you
have
to
perform
repetitive
checks
to
make
sure
that
all
the
clauses
are
there
but
workable
option.
Three,
you
could
wait
for
legal
adoption
globally
country
by
country.
The
problem
with
that
is,
if
you
have
to
plan
your
budgets
for
development
of
your
solutions,
that's
not
an
easy
one.
It's
unpredictable!
There
are
so
many
dependencies.
B
So
is
there
another
option-
and
this
is
you
know
the
lawyers
are
going
to
jump
on
this
everyone
else
they
may
jump
on
this,
but
I'm
just
putting
it
up
there
just
for
for
review,
in
my
opinion,
with
some
good
will
and
some
desire
to
collaborate
and
I've.
This
is
my
I've
drawn
a
small
map
and
I've
put
sort
of
back
office
providers
on
it.
Invoicing
platforms
like
an
invoicing
platform.
B
Well,
an
invoice
could
be
a
term
invoice
and
instead
of
a
buyer
approval
which
is
easy
in
a
closed
ecosystem
but
an
open
econ
system,
you
could
easily
replace
a
buyer
approval
by
a
digital
bill
of
a
change
being
accepted
by
the
buyer.
So
that's
why
I
always
believe
in
invoicing
and
trade
and
payments
meeting
each
other
now
other
platforms,
sef
platforms,
trade,
consortiums,
the
contours,
the
marco
polos,
the
wii
trades,
the
commgos
I'm
going
to
be
missing
some
of
them,
but
there's
a
lot
of
platforms
out
there.
B
Now
at
the
left
bottom
part
here,
I've
put
mletr
compliant
digital
document
technology
and
that's
what
we
believe
trace
original
is
the
technology.
Is
there
to
control
data,
integrity,
authenticity
and
ownership,
so
we
have
already
used
it.
We've
adopted
it
and
there's
another
vendor
who
has
also
adopted
it
already.
One
of
the
other
leading
vendors
in
the
market
has
also
adopted
the
solution.
So
you
could
really
ask
yourself
well,
you've
got
all
those
other
platforms.
B
How
difficult
would
it
actually
be
for
those
consortiums
or
for
those
platforms
too,
as
part
of
their
existing
rulebook
adopt
mndtr
compliant
technology?
I'm
sure
you
can
come
with
many
reasons
not
to
do
it,
but
is
it
impossible?
I
don't
think
so.
So
if
you
would
adopt
your
rule
book
and
I've
changed
color
now,
you
could
actually
create
interoperability
based
on
a
common
mletr
compliant
technology.
We
could
start
pushing
around
digital
documents
between
those
parties
that
have
adopted
it.
That
is
possible.
Technically,
it
certainly
is
possible.
B
Legally,
I
I
leave
the
floor
to
others,
another
element,
food
for
thought
and
and
just
thinking
out
loud
and
because
we
could
have
apis
between
the
consortiums
and
our
back
office.
We
could
easily
do
that
for
sure.
You
know
technically
no
problem,
but
swift,
maybe
should
could
also
ask
themselves
with
the
file-like
solution,
which
could
act
as
a
digital
courier
for
the
trace
original
digital
container
documents.
B
They
have
an
api.
Why
could
you
not
use
the
swift
network
to
transport
digital
documents
and
actually
embed
an
api
into
the
platform
to
perform
the
checks
on
the
integrity,
originality
and
ownership
chip
just
food
for
thought?
It's
not
my
decision,
but
I
think
technologically
there
are
definitely
no
obstacles
to
achieve
this.
I
have
to
keep
my
eye
on
the
clock.
I'm
going
to
start
my
demo
soon,
introduction
to
the
demo
we're
getting
close
for
those
people
who
want
to
see
something
we're
only
a
couple
of
minutes
away.
This
is
what
you
are.
B
This
is
the
setup
of
the
demonstration
system,
we're
integrating
with
cargo
x
for
the
for
the
edl
and
with
the
media
for
the
bill
of
exchange.
The
democratic
parties
in
the
flow
are
going
to
be
the
exporter,
the
bank
and
the
importer
we've
set
up
on
the
ebl
platform.
We
had
to
create
the
transaction,
because
this
is
a
copy
of
a
production
system.
It's
a
sandbox,
but
still
a
live
system,
a
copy
of
it,
but
so
see
a
shipping
is
a
carrier.
B
Digital
supplier
in
the
uae
is
the
exporter
exit
mills
bank
is
the
remitting
bank
inside
the
collection
in
the
uae
and
bribe
buyer
in
the
uk
is
the
import.
The
systems
we'll
be
using
are
mentioned.
Underneath
our
back
office,
eggs
and
bills
enterprise
is
is
key.
That's
the
trade
control
tower
digital
signing,
as
you
will
see,
is
a
small
note.
B
We
will
be
using
one
time
password
and
mobile
digital
signatures,
but
you
will
see
that
in
a
minute
the
entire
demo
flow
is
going
to
start
at
the
point
that
the
carrier,
the
bill
of
lading,
has
already
been
created.
A
massive
bill
of
lady
has
been
created
and
the
exporter
has
a
objective
to
obtain
finance
on
that
on
that
trade
transaction.
B
So,
on
his
export,
he
wants
to
receive
working
capital
and
he's
gonna
be
working
with
his
bank
to
actually
achieve
so
he
will
be
giving
access
to
this
ebl
to
his
bank,
and
you
will
also
see
that
so
the
demo
processing
flow.
I
want
to
stress
what
you're
seeing
is
just
one
very
specific
scenario
and
we
could
easily
adjust
this
in
terms
of
level
of
automation,
the
corporate
communication
channel,
which
is
now
our
portal,
but
it
could
be
another
corporate
connectivity
platform.
We
can
also
adjust
the
documents
we
could.
B
Even
you
know,
with
the
new
urdt
we
already
investigated
this.
We
start
the
process
from
the
exporter.
We
could
actually
also
start
the
process
from
the
buyer,
issuing
a
payment
obligation,
a
conditional
one
based
on
the
transfer
of
ownership
of
an
ebl.
So
we've
got
all
the
tools
in
our
solution
available
to
actually
support
urdt
if
that
would
be
required
or
to
just
operate
under
eurc
using
digital
documents.
B
B
The
green
ones
like
green
ones
are
carbox
apis
and
the
gray
ones
are
trace
original
apis,
and
then
you
have
the
activity
with
user
intervention,
which
is
known
a
lot
you
will
see.
A
lot
of
events
are
going
to
be
fully
automated,
there's
not
that
much
user
intervention,
but
you
can
again
go
through
this
in
detail.
The
import
is
not
a
customer
of
this
bank,
which
means
we
will
only
be
interacting
via
email
with
this
import
email
with
secure
tokens.
B
B
B
The
only
other
thing
I
need
to
show
to
you
before
I
kick
off.
The
flow
is
because
it's
a
transaction
that
we
aim
to
finance
I'm
going
to
show
you
in
our
back
office
system
the
limit
that
we've
set
up,
that
the
bank
has
set
up
to
provide
receivables,
financing
to
the
exporter
and
we've
set
up
a
very
simple
limit.
We
could
have
created
a
proportion
for
each
buyer,
but
we've
created
just
one
overall
facility
for
build
discount
or
receivables
financing,
so
we'll
quickly
show
you
that
limit.
B
We've
created
three
levels,
but
this
is
fully
configurable,
so
the
limit
is
on
digital
supply,
limited
where
we
have
a
credit
line
at
the
top.
So
the
customer
credit
line
is
the
first
level
quite
a
big
amount.
The
second
level
we've
created
a
sub
limit.
We
could
create
as
many
sub
limits
as
we
want,
but
we've
just
created
one
sub
limit
for
export
collections
and
under
export
collections,
we've
created
a
facility
which
is
actually
the
level
which
is
related
to
the
type
of
risk
we're
taking,
which
is
a
bill
discount.
B
B
Going
to
use
a
template
to
facilitate
data
entry
epu
by
buyer,
I'm
going
to
load
this
data
from
a
previous
transaction
and
I'm
going
to
modify
the
reference
of
the
export
and
also
remember
that
one,
I'm
gonna
call
it
epu,
tds
h,
five
times,
eight
collection
type
we're
using
exactly
the
same
solution.
As
for
our
paper
collections,
we
just
have
added
two
two
types:
digital
via
collection
bank
via
collecting
bank
or
digital
via
director.
Drawing
this
one
is
going
to
be
a
digital
collection.
B
Director
drawback
finance
is
required,
25
000
dollars,
I'm
gonna
make
it,
and
then
we
have
the
first
time
our
api.
We
can
display
here
all
ebls
from
all
partners
that
we're
integrated
with,
whereby
the
exporter
is
equal
to
the
shipper
on
the
ebl
platform.
I
can
then
automatically
based
on
the
reference
of
the
bill
of
lading.
I
can
download,
I
can
buy
api
retrieve
the
metadata
for
compliance
checking
any
other
checks.
I
want
to
perform
any
workflow
information
on
the
bill
of
lading
and,
of
course,
I
can
also
download
the
document
itself.
B
This
is
all
done.
This
is
not
strong
in
our
system.
This
is
just
an
api
allowing
us
to
extract
that
data
in
real
time
and
to
work
with
that
data.
Of
course,
we
will
be
using
this
metadata
to
create
our
collection
we
actually
in
the
next
phase.
It
would
be
so
easy
if
we
forgot,
we
could
have
done
it.
We
could
have
taken
the
invoice
to
actually
autocreate
the
collection.
It
would
not
have
been
difficult,
but
the
message
to
the
bank
please
process
today
with
digital.
Yes,
so
why
not
the
next
information
the
proceeds?
B
This
is
where
I
want
the
funds
to
be
credited
on.
My
dollar
account.
Please,
then,
the
phone
number
is
important,
because
in
this
demonstration
we
will
be
using
mobile
one-time
passwords
to
actually
create
digital
signatures.
We
could
do
it
differently,
but
this
scenario
is
based
on
mobile
numbers,
the
buyer
selection
id
and
also
his
phone
number.
So
the
uk
phone
number
I
will
use
for
the
buyer,
my
belgian
phone
number,
I
will
use
for
the
supplier
60
days.
B
That
gives
me
some
time
to
finance
it
60
days,
tenor,
charge
instructions
like
I
said
this
is
the
standard
collection
process
we've
taken
some
fields
out
because
they're
not
relevant
in
a
digital
world,
but
the
rest
is
the
same
as
our
paper
based
collection
process
estimate.
The
time
of
arrival
shipment
from
this
is
all
the
vessel
related
information.
Shipping
information
confirm
this.
B
I'm
quickly
going
to
release
this
now
going
into
the
supervisor,
release
queue
I'll
visualize
my
filters
and
I'll
type
in
my
reference,
which
was
cpu
tds
and
something
with
five
eights
in
it,
so
triple
h
should
give
me
the
result.
I
want
yes,
so
here
is
my
export
collection.
I'm
quickly
going
to
release
this,
because
I
want
to
push
this
in
the
bank.
B
B
I
selected
all
the
information
is
there
key
information,
of
course,
is
that
finance
is
required,
yes
and
auto
finance
for
this
customer
is
set
to
yes,
what
does
that
mean
you're
not
going
to
get
a
quotation
of
a
financing
offer?
It
will
be
automatic
based
on
certain
criteria
defined
on
the
program.
Actually,
I'm
going
to
accept
this
instruction
quickly.
Look
at
the
other
data,
all
the
parties
that's
coming
from
the
portal.
The
mobile
is
being
used
as
a
method
to
contact
both
parties.
B
B
B
You
can
see
this
button
now,
we've
not
activated
it
yet.
We
can
activate
this
to
actually
do
vessel
tracking
because
it
could
be
ihs
market
could
be
pole,
style,
there's
a
number
of
companies
providing,
but
then
we
would
need
the
imo
model.
We
could
look
up
the
imo
number
international
maritime
organization,
unique
number
of
the
vessel,
but
that's
in
the
next
step,
so
we'll
continue
the
process.
B
So
this
is
the
limit
check
and
the
limit
has
been
passed
so
for
the
build
discount
facility.
The
limit
has
been
checked,
which
means
this
bank,
which
is
using
our
system,
is
ready
to
finance
reference
for
the
back
office.
249
249.
Remember
that
export
collection
reference
I'm
going
to
go
to
the
supervisor,
release
queue.
Now
my
export
collection
module.
It's
going
to
show
one
transaction
of
today,
which
should
be
green.
It
should
only
be
yes,
zero
days,
which
means
today,
one
transaction.
I
click
this
and
I
will
directly
go
to
that
record.
B
So
I'm
going
to
release
this
now
supervisor
can
check
all
the
data
and
check
the
documents
and
check
anything
he
wants
and
when
I
hit
the
confirm
button,
eggs
and
builds
will
trigger
an
api
with
trace
original
and
generate
on
the
blockchain.
The
digital
exchange,
blue
fields
are
the
ones
which
have
been
changed
in
the
last
event
update,
so
the
bank.
This
is
where
the
api
is
triggered.
We're
going
to
generate
a
digital
bill
of
exchange
and
we're
going
to
push
this.
We
can
do
text
notification.
B
We
can
do
email
notification,
we're
now
going
to
push
this
into
the
portal
back
to
the
export,
so
we're
back
into
the
front-end
system
here
and
there
is
going
to
be
a
bank
message
for
the
exporter.
Asking
him
look:
we've
accepted
your
export
collection.
We've
accepted
your
finance
request.
Your
limit
has
passed.
All
the
checks
have
been
passed
now
you
need
to
digitally
sign
this
bill
of
exchange
as
the
draw
to
make
it
legally
valid.
So
that's
what's
going
to
happen
next,
so
the
digital
bill
of
exchange
signature
required.
B
So
if
I
click
the
sign
button,
I
will
trigger
an
api
and
I've
made
screenshots,
because
you
cannot
see
my
mobile.
So
what
I've
done
is.
That's
why
it's
recorded.
You
will
see
screenshots
of
my
mobile
very
soon,
so
I'm
going
to
sign
this
bit
of
exchange,
I'm
going
to
enter
and
there's
a
check
on
this.
The
mobile
number
has
to
be
exactly
the
same
as
the
mobile
number
that
was
agreed
in
the
trade
agreement
for
this
supplier.
B
So
my
belgian
mobile
phone
now
has
received
this
code
698072.
This
is
a
one-time,
password
verification.
If
I
confirm
this,
it
gives
me
access
to
the
bill
of
a
change,
and
this
is
what
it
is
actually
for.
The
tecmo.
This
is
a
pdf
with
an
embedded
adjacent
object
inside
this
is
an
image
we've
created
for
the
bill
of
the
changes
can
be
customized
any
way.
You
want
that's
the
bill
of
exchange,
and
this
is
the
structured
data
of
the
digital
document
when
it
was
created
by
whom,
who
are
the
parties?
How
do
I
identify
them?
B
What's
the
id,
etc,
etc?
The
required
signers,
as
you
see
there,
is
a
mobile
number
for
both
the
id
for
the
signing
is
based
on
mobile
identification.
So
I'm
the
supplier.
If
I'm
happy
with
this,
I
can
decide
to
sign
this
now
again,
there's
going
to
be
a
one-time
password
submitted
to
my
belgian
mobile
phone
number,
I'm
going
to
sign
it
again.
B
So
this
signature
again
it's
a
handwritten
one.
Of
course
it
could
be
a
retrieved
one,
there's
so
many
different
ways
of
handling,
so
I've
signed
this
now.
At
this
point,
the
digital
document
on
the
blockchain
gets
updated.
With
this
signicap
we
use
signicat
in
this
case
signature
so
signer
for
the
drawing
now
drawer.
Sorry,
the
exporter
is
stellar
and
you
can
also
see
it
event.
B
So
based
on
the
instruction
of
this
customer,
you
will
be
able
to
verify
all
the
details,
but
the
key
thing
is
as
soon
as
you
accept
the
digital
bill
of
a
change.
We
will
automatically
transfer
ownership
of
the
ebl
of
rating
to
yourselves
so
instead
of
the
letter,
this
is
by
a
secure
token,
at
the
top.
You
can
see
it.
B
He
can
also
look
at
the
bill
of
exchange
and
all
the
other
instructions.
If
any
rank.
You
give
us
your
admittance,
your
letters
we
can,
they
can
be
transformed
into
a
digital
collection.
This
is
the
bill
of
exchange
digital
one,
and
you
can
of
course,
also
verify
all
the
structured
data
which
is
in
this.
This
is
a
reflection
of
json
object
required
signers.
This
is
just
the
information
all
the
parties,
the
mobile
number
and,
of
course,
what
is
the
history
of
the
document
after
creation
there?
B
Something
else
has
happened,
the
signature
of
the
drawer,
the
exporter
he
has
digitally
signed,
I'm
gonna
verify
all
the
other
information,
the
details,
the
description
of
the
goods,
support
of
loading
et
cetera,
collection
instruction-
and
this
is
not
we
we
hand
you
over
documents
against
acceptance
of
the
book.
No,
we
will
transfer
ownership
of
the
bill
of
lading
against
acceptance
of
the
bill
of
exchange
for
25
000,
the
payment
instructions,
how
funds
need
to
be
remitted,
and
this
is
the
history.
If
I
sign
this
again,
I
do
the
same
thing
as
on
the
exporter
side.
B
B
That
will
give
me
access
to
the
signing
capability.
So
it's
two
times
an
odp
one-time
password
and
I
can
now
see
the
digital
bill
of
exchange
and,
if
I'm
happy
with
it,
I
can
decide
to
sign
it
when
that
is
signed.
A
lot
of
things
happen,
because
here
this
is
where
the
digital
handshake
is
going
to
be
taking
place.
B
I
sign
as
drawing
I'm
going
to
sign
the
document
again
again,
password
verification,
694190
and
then
I
will
be
able
to
digitally
sign
and
then
the
handshake,
all
within
15
minutes
is
going
to
take
place,
I'm
going
to
sign
as
bernard
bernard
from
the
buyer
and
the
boss.
So
I
sign
as
draw
we.
This
is
the
acceptance
of
the
bill
of
exchange
which,
and
then
the
buyer
is
keeping
his
deal
of
the
bargain
and
the
bank
has
to
keep
their
deal
of
the
bargain
as
well
as
supply.
B
It's
happened.
Our
back
office
already
knows
now
that
the
bill
of
exchange
has
been
signed
by
the
drawing
immediately
following
that.
If
we
go
into
our
back
office-
and
you
can
see
it
also
here-
event
number
three:
the
signature
of
the
drawing
we
go
back
to
eggs
and
builds
because
three
things
have
happened.
B
We
have
auto
financed
the
supplier,
there's
an
stp
process
which
is
executed,
we're
going
to
send
the
acceptance
and
the
finance
details
of
this
receivables,
financing
transaction
to
the
supplier
portal
and
keeping
our
deal
of
the
buying
transfer
the
ownership
of
the
ebl
via
cargo
x
to
the
buyer.
So
let
me
inquire
my
transaction,
which
is
still
in
my
clipboard
249..
B
The
last
event
on
my
transaction
is
number
five.
The
acceptance,
as
you
can
see,
there's
a
lot
of
things
that
happen
and
you've
barely
seen
anything
on
the
back
of
this.
Why?
Because
it's
all
stp
so
step
number
five.
The
acceptance
process
important
the
tenor
is
now
the
maturity
is
fixed,
which
is
the
17th
of
september,
which
used
to
be
in
the
future,
there's
no
anymore,
but
it
used
to
be
in
the
future.
B
When
I
recorded
this
and
then
the
discount
information-
as
you
can
see
here,
out
of
the
25
000
of
the
bill
of
exchange,
we've
deducted
some
interest
based
on
a
base
rate
and
margin
net
amount
payable,
24
988.89,
not
too
bad,
I
don't
think
not
too
high
costs.
So
that's
what
the
money
which
has
been
booked
which
we've
booked
into
the
suppliers
account.
B
We
could
then
send
a
pdf
statement
to
the
supplier,
but
what
we
are
I've
done
here
is:
we've
simply
sent
a
structured
message
to
the
portal
and
then
I'm
going
to
show
it
now.
If
I
do
a
quick
inquiry
on
my
transaction
in
my
export
collection
module,
there
is
an
event
to
update
the
supplier
about
the
acceptance
and
the
receivables,
finance
and
transactions.
So
let
me
inquire
my
transaction
collection
nor
the
reference
again
clipboard
249-
and
here
it
is
it's
still
open,
because
buyer
still
needs
to
pay.
B
The
transaction
is
still
open,
but
if
I
inquire
on
the
events
event
at
the
bottom
is
the
acceptance
and
finance
details.
So
if
I
inquire
on
this-
and
we
could,
like
I
said-
is
easily
created
a
pdf
attachment-
we
could
have
sent
that
to
invite
a
portal
via
email.
Whatever.
This
is
the
information
from
the
back
office.
The
maturity
date
is
important
because
the
buyer
has
to
pay
this
maturity
and
the
finance
details.
All
the
details
you
just
saw
on
the
back
office
mapped
into
a
structured
message
into
the
portal.
B
The
most
important
thing
of
this
digital
handshake
is
step
number
three,
of
course,
transfer
ownership
of
the
ebl
and
that's
where
we
again
have
user
api
capability
with
cargo
x.
Where
we've
said
to
cargo
x.
Look
the
buyer
has
kept
this
part
of
the
deal.
We
are
now
going
to
transfer
the
ownership
of
the
epl
and,
again
there's
really
using
an
inbox.
This
is
the
email
inbox
of
the
buyer.
B
B
This
is
all
security,
stuff,
encryption
password
and
I'm
going
to
be
logging
in
and
now
I
will
find
if
the
bank
has
kept
that
part
of
the
deal.
I
will
see
that
that
the
ownership
has
been
transferred
to
me,
the
buyer.
So
is
there
a
notification
and
at
the
top
one
at
the
top,
the
bill
of
lading
zero?
Zero.
Sixteen!
If
I
click
this,
you
see
now
that
the
current
owner
has
become
bright.
Buyer
the
buyer
now
holds
possession
of
then
he
can
actually
kick
off
the
process
with
the
delivery
order.
B
Whatever
point
is
agent
freight
for
whatever
to
start.
This
is
again
the
same
bill
of
lading.
I've
shown
this
many
times,
but
it's
still
the
same
one,
nothing,
nothing
new
about
that
now.
So
this
is
actually
the
collection
here,
as
far
as
the
acceptance
goes
has
been
done.
Of
course,
we
said
end
to
end,
which
means
we're
going
to
do
something
more.
B
Remember
that
I
said
five
days
before
the
maturity,
we
will
send
the
payment
reminder
so
now
we're
doing
some
time.
Travel
five
days
before
the
bill
of
exchange,
maturity,
eggs
and
bills
would
automatically
send
the
reminder
to
the
buyer
about
the
fact
he
needs
to
pay
this
because
the
bank
has
made
the
advance,
but
they
still
need
to
receive
the
sub
funds
from
the
buyer
to
reverse
the
liabilities
and
the
risk
on
this
transaction.
So
this
is
the
payment
reminder
to
the
buyer.
B
Thank
you
for
your
payment,
blah
blah
blah,
but
don't
forget
the
value
date
17
september,
and
when
you
click
this
link,
you
will
be
able
to
verify
all
the
transaction
details.
This
is
actually
a
step.
We
cannot
control
whether
the
buyer
will
actually
do
this,
but
we're
given
the
opportunity
here
to
actually
to
confirm
that
you
will
execute
the
payment
as
a
bank.
We
are
not
going
to
base
our
reconciliation
process
on
this
message.
B
However,
you
know
we'll
be
using.
We
will
be
reconciled
against
the
nostro
account
to
actually
reverse
the
process.
So
again,
buyer
can
review
the
bill
of
exchange
and
he
will
be
able
to
see.
Yes,
I
actually
on
that
date.
At
that
time,
number
three
I
bernard
b
accepted
this
digital
bill
of
change.
I
have
to
pay
this.
The
payment
instructions.
Are
there
crediting
exit
bills
bank
account
with
citibank
in
new
york,
so
the
u.s
dollar
account
with
citibank
new
york.
My
account
in
this
scenario
as
a
buyer
is
with
sumitomo
london.
B
You
will
see
that
very
soon
sumitomo
london
and
I
will
be
using
sumitomo
york
to
clear
the
us
doors
by
a
city
bank,
but
that's
going
to
be
the
next
step.
We've
logged
this
payment
confirmation.
This
is
a
step
that
is
actually
not
a
must.
It
is
just
to
show
you
again
that
we've
updated
exam
bills
with
this
buyer
payment
confirmation
again
doing
a
quick
inquiry
on
249.
B
yeah.
My
reference
was
249
of
the
bank
and
there
you
will
see
that
the
last
event
now
is
not
the
acceptance
anymore,
but
it's
the
buyer
payment
confirmation
but,
like
I
said
not
good
enough
for
for
reconciliation
purposes,
we're
now
going
to
be
simulating
a
swift
process,
and
you
will
see
that
now
we're
going
to
be
simulating
a
message
being
sent
from
our
from
from
the
bank
actually
to
a
swift
alliance
machine.
That's
the
next
step.
B
If
citibank
receives
funds
in
their
account,
they
will
normally
send
an
empty
910,
which
is
a
confirmation
of
credit,
so
we
will
be
using
an
empty
910
with
the
reference
of
the
collection.
This
is
a
confirmation
of
credit
that
citibank
has
received
the
funds
from
sumitomo
in
new
york
that
mp910
in
the
max
world
cam
it's
a
cash
management
054
for
for
the
people
who,
like
swift,
talk
that
will
allow
us
to
automatically
reconcile
the
payment
against
this
exchange
of
finance,
so
pack
72
payment,
digital
collection,
demo
and
the
249.
B
B
The
incoming
swift
will
automatically
trigger
a
function
inside
our
back
office,
which
is
going
to
book
the
received
funds
to
25
000
to
settle
the
finance
transaction.
Reverse
the
limit,
close
the
collection
if
the
balance
of
the
collection
has
become
zero,
send
an
update
to
the
supplier
and
invalidate
the
bill
of
exchange
on
the
blockchain
six
things.
B
Let
me
see
whether
those
things
have
happened
and
we're
almost
at
the
end
of
the
demonstration.
If
I
inquire
on
my
transaction
249,
you
will
see
that
now.
My
transaction
is
closed
because
the
system
has
detected,
it
was
a
full
payment
and
see
closed
is
yes.
The
system
has
already
updated
the
record
in
sdp
mode
when
I
inquire
on
event
number
seven
payment
received,
which
is
done
fully
automatically
just
based
on
that
swift
message.
B
I
will
be
able
to
verify
all
the
details,
as
well
as
the
swift
message
received
into
our
system
that
mt
910
message.
So
collection
balance.
As
you
see
zero,
which
means
it's
been
fully
paid
account
identification.
That's
the
nostra
account
the
tax
72
payment,
digital
collection
demo,
and
on
the
second
page,
you
have
all
the
payment
parties,
which
is
for
the
buyer.
B
We
can
actually
show
to
you
also
the
swift
message.
This
is
the
mp910
that
you
just
saw
where
I'm
simulating
the
swift
transfer.
We
receive
all
the
swift
messages
in
our
system,
whether
they're
mt
or
a
max.
It
does
not
matter.
So
that's
the
actual
swift
message
with
that
tag:
21
tac
21
related
reference
is
the
one
we
use
to
perform
the
reconciliation
and
then
payment
digital
collection
demo.
So
that
message
is
there.
B
It's
still
relevant
for
the
supplier
that
the
money
has
come
in,
because
you
never
know
that
the
bank
may
actually
execute
its
right
to
recourse.
So
we
update
the
supplier.
There
could
be
actually
a
settlement
of
a
residual
amount
if
the
finance
was
not
for
100.
If
the
bank
isn't
going
to
give
you
90,
there
would
still
be
a
settlement
of
residual
amount
of
10
minus
charges
on
this
reconciliation
booking.
B
B
B
So
here
we're
going
to
be
showing
to
you
the
view
of
the
public
blockchain,
as
well
as
the
actual
digital
document,
the
last
30
seconds,
andrea
and,
and
so
I'm
going
to
be
viewing
the
public
ledger
and,
as
you
can
see,
there's
no
business
data
on
here
but
event.
Number
four
on
the
public
blockchain
is
that
the
document
has
been
invalidated
on
that
date.
20
minutes
after
it
was
created
and
for
business
people.
Of
course
they
can
also
see
the
actual
document.
B
That's
the
last
thing
you
can
review
the
actual
digital
bill
of
exchange
where
you
can
check
inside
it's
it's
it's
history,
that
this
is
the
view
of
the
bill
of
exchange,
but
you
will
see
now
after
creation,
after
signing
by
drawer
after
signing
by
drawee
event,
number
four
and
the
last
event
on
this
demonstration
is
event
number
four.
The
invalidation
of
the
digital
bill
of
exchange.
B
The
the
very
last
thing
and
people
can
look
at
this
presentation.
What
you've
seen
is
being
are
you
solution
being
used,
but
this
has
been
design
the
only
channel
compliant.
You
can
integrate
this
solution,
especially
on
the
corporate
side
or
even
on
the
bank
side,
with
any
platform
out
there
with
ap
provide
us
your
api
specifications
and
we
can
integrate
with
anyone.
That's
where
I'll
stop
to
give
people
some
time.
A
B
We've
only
this
is
only
just
been
developed
yeah,
so
this
is.
This
is
a
result
of
something
we've
only
just
done
in
production
at
this
point
is
nothing
the
people
who
understand
there
are
obviously
still
legal
constraints
around
digital
documents,
and
we,
as
technology
vendor,
cannot
undo
this,
however,
watch
out
for
2022,
it's
not
under
our
control,
how
the
law
is
going
to
change,
and
that's
why
I
also
made
these
suggestions.
B
We
are
counting
on
goodwill,
it's
not
a
technology
problem
anymore,
it's
mainly
goodwill
and
also,
of
course,
finding
the
legal
and
regulatory
solutions
to
actually
to
be
able
to
interact
with
digital
documents.
Yeah.
I
don't
want
to
simplify,
because
that's
not
the
case
yeah,
so
this
is
not
in
production.
This
has
already
been
you've
only
just
developed
this
end
of
august,
one
month
before
with
schedule.
Actually,
okay,
next
question:
if
it
was
an
answer,
I
hope.
A
B
We
are
not
like
I
said
we
are
working
on
this.
One
in
terms
of
ebl's,
with
cargo
x.
Cargo
x
has,
is
the
block
chain
document
gateway
for
the
egyptian
government.
Any
export
at
this
point
only
c,
so
anything
going
to
the
suez
canal
for
many
exporters
worldwide.
The
documents
have
to
be
uploaded
to
the
cargo
x
platform.
The
transfer
of
ownership
is
handled
within
the
cargo
x
platform
and
that's
a
live.
That's
a
production
system,
so
we
are
just
interacting
with
that.
B
We
are
not,
I
want
to
say
we
do
not
control
the
law.
We
can
only
influence
it
by
proving
what
we
can
do-
technology
wise,
I'm,
not
a
lawyer,
and
but
we
are
working
with
lawyers
and
we're
also
working
under
the
umbrella
of
mainly
itva,
who
is
working
with
lawyer
companies
to
actually
to
to
to
to
take
us
through
this
process,
and
we
know
there's
always
challenges,
but
there's
always
a
reason
why
you
should
not
do
anything
but
we're
not
gonna
wait
until
the
law
has
changed.
B
B
Yeah
yeah,
we
are,
we
are
a
back
office
provider
we
integrate
with
whatever,
obviously
on
every
trade
system.
Every
project
includes
an
aml
integration
project
yeah.
We
are
not
the
provider
of
such
solutions
ourselves.
There
is
we've
integrated
with
acuity,
and
I
see
actimize
there's
a
number
of
solutions
in
the
market
for
this
fercosoft
in
a
while
back
so
we
integrate,
we
are
mainly
the
the
company,
the
engine
who
actually
acts
as
the
data
processor
and
actually
interacting.
B
If
you
look
at
our
solution
here,
if
you
look
at
this,
we
provide
the
trade
control
tower.
We
provide
the
dashboards.
As
you
can
see.
One
of
them
is
probably
we've
got
vessel
tracking
here
here:
transactions
pending
compliance
decision,
we
provide
data
to
trade,
compliance
engines,
that's
what
we
do
and
we
interact
in
real
time
with
those
engines.
B
So
we
get
the
responses
back,
there
could
be
hits
could
be
confirmed,
hits
could
be
false
positives
and
we
use
that
information
to
trigger
our
processing
flows
to
let
a
transaction
continue
if
it
was
a
false
positive
or
there
was
an
override
whatever
from
a
compliance
officer.
That's
what
we
do.
That's
our
bread
and
butter
integrating
with
systems
like
that,
but
we
are
not
the
software
provider
of
such
solutions.
B
We
provide
the
trade
control
tower.
We
we
generate
the
accounting,
we
generate
the
advice.
We
we
we're
the
financing
engine,
we
interact
with
effects
with
risk
management.
We
provide
mis
data,
that's
what
exit
mills
does.
It
controls
the
entire
collaborative
workflow
with
any
external
party
wherever
they
are
and.