The post Pioneering a New Frontier in Border Trade Efficiency appeared on BitcoinEthereumNews.com.

Trade Logistics Information Pipeline (TLIP) is reported to eliminate the common challenges faced by border agents.  It was also selected as one of the 30 organizations to participate in the MISSION (MaritIme juSt in time optimiSatION). IOTA’s mission to launch the Trade Logistics Information Pipeline (TLIP) to get the private and public sectors to come together to facilitate paperless international trade has been realized as it gains popularity in the payment industry. In 2022, it collaborated with TradeMark East Africa to launch a website to highlight its benefits while providing an opportunity to follow the progress of the project. In a document shared by TradeMark Africa on X, TLIP was mentioned to be the missing piece of the puzzle meant to address the challenges faced by border agents.  Highlighting #globaltrade challenges for border agents: 💸 Delays in document receipt post-sea freight arrival, leading to hefty cost & time losses.📉 Navigating multiple systems without real-time visibility poses revenue risks.🕵️ Fraud risks demanding costly fixes.#TLIP pic.twitter.com/usMUK1BnxD — TradeMark Africa (@TradeMarkAfrica) February 19, 2024 According to the report, border agents have been dealing with document delays over the years, leading to consignment hold-ups and financial loss. On top of that, there has been limited data visibility as agencies use various systems to gather trade data from different supply chain actors. The system of customs agencies is also susceptible to fraud, leading to misdeclaration and misclassification. According to Trademark Africa, TLIP could address almost all of these challenges, and make border trade efficient.  Role of TLIP in MISSION Recently, TLIP was selected as one of the 30 organizations to participate in the MISSION (MaritIme juSt in time optimiSatION). This program is reportedly part of the €95.5 billion ($102 billion) Horizon Europe program, and it got €7.5 million ($8 million) from the European Union to…

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Filed under: News - @ February 20, 2024 5:08 am