ICC has launched the Digital Trade Standards Initiative (DSI) - a collaborative cross-industry effort to enable the standardisation of digital trade.
The DSI will build on work done by various like-minded initiatives, many of which aim to digitise trade, notably through the development of open trade and technology standards to promote interoperability.
A key aim is to promote greater economic inclusion through the development of open trade standards. This will facilitate technical interoperability among the variety of blockchain-based networks and technology platforms that have entered the trade space over the past two years.
Various organisations are working towards creating standards for DLT in trade, both general (including the DSI and UN/CEFACT) and specific (e.g. BAFT's distributed ledger payment commitment). Ensuring that the standards being developed are widely accepted and span the entire supply chain will be of critical importance for the success of DLT projects in trade and trade finance. (Source: Accelerating Trade Digitalization to Support MSME Financing - Deepesh Patel (TFG) and Emmanuelle Ganne (WTO), March 2020.
The DSI has established a five-year plan communication tool.
2021 deliverables:
Five-year ambition:
More details can be found at https://www.youtube.com/watch?v=YXsd4PFXlgU