Transmute has concluded participating in the U.S. Customs and Border Protection Steel Tech Demo, offering their supply chain data management software under the Silicon Valley Innovation Program.
The CBP is conducting a first interoperability standards test focusing on pipeline oil and steel supply chain data inputted into Transmute’s verifiable data platform. The platform, pathing the way for more secure and efficient global supply chains, was showcased at Identity Week America 2022.
The company has expressed gratitude to its pioneering partners at DHS Science and Technology Directorate, CANACERO, ArcelorMittal México, Grupo DEACERO, Gerdau Corsa, Outokumpu Mexico, TenarisTamsa, Ternium, A.N. Deringer, Inc.,Customs Direct, GONTOR Logistics, Mohawk Global and Wisdom Digital Logistics.
A series of tests are expected in due course to establish whether supply chain technologies that promise innovation across CBP’s various data operations match efficiencies with interoperability standards between existing and new systems.
Late August witnessed a transformative showcase of Transmute’s Verifiable Data Platform (VDP) for enhancing trade security, regulatory compliance, and supply chain visibility, the press release stated.
Here’s a look back at our interview with Karyl Fowler, CEO of Transmute.
Karyl Fowler, a whole year on, commented on Transmute’s Verifiable Data Platform being the “culmination of nearly 4 years of work alongside US CBP” which “reaffirms the immense impact verifiable data technologies have in modernising and securing international trade transactions from product origins to the end consumer”.
“This test demonstrates how our Verifiable Data Platform (VDP) can seamlessly interoperate with existing systems and processes to not only meet regulatory requirements in near real time but also unlock new levels of operational efficiency and unprecedented supply chain visibility.”
The open standards technology used in the demonstration presented an efficient solution to issue, manage, and present critical trade documents rather than depending on physical documents that could be easily tampered with, having a ripple effect down the operation chain. Orchestrated by turning data into immutable, verifiable credentials, self-serving data protection. Data has an added layer of protection using decentralised identity technology.
Vincent Annunziato, CBP’s Business Transformation and Innovation Director added: “Global interoperability standards will help unify the approach to transparent supply chains within both the public and private sectors, streamlining communication and improving both security and facilitation”.
This revolutionary approach to changing data into verifiable credentials not only bolsters the security of global supply chains, but also automates compliance with the US CBP’s 21st Century Customs Modernisation and ACE 2.0 interoperability standards.
The CBP is committed in the 2024 tests – pertaining to the five Silicon Valley Innovation Program projects – to global interoperability standards and will test verification capabilities at the origin of transactions and credentials. Data transparency through visible supply chains will help to prevent low productions in pipeline oil, steel, natural gas, e-commerce, and food safety.
CANACERO, the group representing steel companies that hold a tender with the CBP, expressed their enthusiasm for the outcomes of the Tech Demo, saying:
“Our collaboration with Transmute and the US CBP has shed light on the future of trade documentation and compliance. By utilising cutting-edge solutions like VDP, we are not only safeguarding our supply chain but also paving the way for increased value chain visibility.”