By simulating the conventional physical flow, the Proof of Concept, conducted in collaboration with DP World Trade Finance, Enigio, and iBind, sought to address the fundamental problems impeding the adoption of digitally native trade documents.

The digital documents had to prove their authenticity and originality, prove who owned them, give power over them, and be transferable to a new owner.

According to a statement, the Proof of Concept (PoC) signifies a pivotal moment in the evolution of digital trade finance. It validates digital trade documents, such as an e-Bill of Lading, and establishes the authority of the corporate entities involved in the end-to-end trade transaction.

According to the partners, their work effectively illustrates how to create, transmit, and authenticate trade documents that are digitally native. It demonstrated a smooth integration into current operations and produced a strong framework for verified digital IDs.

"This innovative solution has demonstrated its potential to revolutionize digital trade, offering enhanced security, efficiency, and trust," says Vishnu Purohit, group head, trade product management, Emirates NBD.

This marks a pivotal step toward achieving a more seamless and secure trade ecosystem, and we are thrilled about the potential it holds for the future of international trade.