IOTA-based TLIP is transforming UK-EU trade dynamics post-Brexit by facilitating real-time data sharing and reducing administrative costs.
In a notable example, Mobius, a UK logistics firm, has utilized TLIP to streamline the transportation of poultry from Poland to the UK. This digital platform integrates consignment and transport data, benefiting all involved stakeholders.
Brexit has been extensively analyzed, with studies revealing annual costs of $126 billion to the UK economy and contributing to the resignation of former Prime Minister David Cameron. Despite the challenges, Brexit has spurred innovation, including the development of advanced digital trade solutions such as TLIP.
TLIP, or the Trade and Logistics Information Pipeline, is a digital framework powered by IOTA, designed to enable seamless and cost-effective real-time data sharing across global supply chains. It has already been deployed across various sectors, including sustainable supply chains via the Virtual Watch Tower, trade finance solutions, and maritime logistics in collaboration with the EU, as reported by Crypto New Flash.
This innovative solution is now pivotal in enhancing UK-EU trade post-Brexit, cutting costs, improving efficiency, and saving countless hours previously spent on cumbersome processes.
The UK-EU trade corridor is substantial, with imports valued at over $570 billion annually. However, Brexit necessitates stricter border controls, leading to increased delivery times and costs. TLIP addresses these challenges by facilitating real-time data exchanges through its IOTA-based digital infrastructure, which includes integration with government agencies.
TLIP’s impact is exemplified in the transportation of poultry from Poland to the UK by Mobius Technology, as detailed in a recent blog post by the IOTA Foundation. This initiative involves managing the logistics with precision, ensuring that crucial details such as timing, routes, and arrival times are communicated to border agencies in advance. This proactive approach helps expedite clearance processes, critical for perishable goods like poultry.
According to the IOTA Foundation, TLIP acts as a digital pipeline that consolidates and shares consignment and transport data, fostering interoperability and trust among stakeholders.
The current pilot program, focusing on six daily poultry consignments, will continue until September, paving the way for the first commercial EU-UK road freight platform. Jens Munch Lund-Nielsen, Head of Global Trade & Supply Chains at the IOTA Foundation, highlights TLIP’s role in simplifying international trade logistics, enhancing operational efficiencies, and ensuring compliance with evolving standards and regulations.
Meanwhile, IOTA is trading at $0.1699, showing slight gains over the past day, with a market cap totaling $565 million.
For further insights into IOTA and TLIP’s transformative potential in UK-EU trade post-Brexit, visit CoinMarketCap and explore the innovative digital solutions offered.
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