Trade Logistics Information Pipeline (TLIP) has emerged as a solution to the common challenges faced by border agents, according to recent reports. TLIP, which was chosen as one of the participants in the MaritIme juSt in time optimiSatION (MISSION) program, has successfully launched its Trade Logistics Information Pipeline (TLIP) to promote paperless international trade and gain recognition in the payment industry.
In collaboration with TradeMark East Africa, TLIP launched a website in 2022 to showcase its benefits and provide updates on the project’s progress. TradeMark Africa referred to TLIP as the missing piece of the puzzle that addresses the difficulties faced by border agents.
The challenges faced by border agents in global trade include delays in receiving documents after sea freight arrival, resulting in significant financial and time losses. Additionally, the use of multiple systems without real-time visibility poses revenue risks, while the prevalence of fraud demands costly solutions.
The report highlights how border agents have been grappling with document delays for years, leading to delays in consignments and financial losses. Furthermore, limited data visibility has been a problem as agencies rely on different systems to collect trade data from various supply chain actors.
The customs agency’s system is also susceptible to fraud, resulting in misdeclaration and misclassification. TradeMark Africa believes that TLIP can address most of these challenges and streamline border trade operations.
TLIP’s role in the MISSION program is to address the issue of fragmentation in the maritime transport ecosystem. With maritime transport accounting for 80% of global trade, there is a need for a unified digital communication and logistics platform.
The MISSION program aims to synchronize ship schedules and coordinate port operations while improving navigation safety by 20% to 30%. TLIP will leverage IOTA’s distributed ledger technology to seamlessly integrate with existing systems through APIs and state-of-the-art data standards.
The interoperability of TLIP ensures its integration into the European Blockchain Service Infrastructure (EBSI). Future plans involve integrating TLIP with AI-driven smart contracts to facilitate the smooth exchange of data, including alerts for non-compliance and delays.
The TLIP team is excited about the partnership and looks forward to collaborating with talented teams across Europe. Their shared goal is to shape a unified future that promotes economic prosperity and well-being in the fields of transportation, energy, and beyond. With confidence in their collective efforts, they believe this collaboration will pave the way for a transformative and harmonious future.
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