SICC and VCC Launched World’s First Electronic Certificate of Origin (eCO) on Blockchain

  Published on 8 May, 2018

SICC and VCC Launched World’s First Electronic Certificate of Origin (eCO) on Blockchain

  Published on 8 May, 2018

SICC and VCC Launched World’s First Electronic Certificate of Origin (eCO) on Blockchain

  Published on 8 May, 2018

SICC and VCC Launched World’s First Electronic Certificate of Origin (eCO) on Blockchain

  Published on 8 May, 2018

World’s First Electronic Certificate of Origin (eCO) on Blockchain – Immutable. Smart. Simple.

The world’s first eCertificate of Origin (eCO) on Blockchain held by (from left), Mr Victor Mills – CE of SICC,
Mr Chua Taik Him – Senior Advisor of Enterprise Singapore and Mr Desmond Tay – CEO of VCC

Singapore International Chamber of Commerce (SICC) and vCargo Cloud (VCC) unveiled the world’s first Electronic Certificate of Origin (eCO) on blockchain on 8 May 2018 at Suntec Convention and Exhibition Centre. The event was officiated by Guest-of-Honour by Mr Chua Taik Him, Senior Advisor of Enterprise Singapore, and attended by over 100 senior officials from trade-related agencies and industry leaders.

VCC is honoured to be SICC’s selected technology partner to provide SICC’s members, trade-related agencies and users of complementary services such as trade financing and insurance with a trade facilitation system that offers higher security, efficiency and flexibility. The launch of this solution marks SICC being the world’s first chamber to offer a blockchain-based eCO platform.

A certificate of origin (CO) is an international trade document which certifies that the goods in a specific shipment have been wholly obtained, produced, manufactured or processed in the stated country. With this platform, trade documents will be easily authenticated with improved transparency, security and efficiency. It permits instant verification of the trade documents utilising QR codes and runs on a private blockchain network that prevents fraud, alterations and third-party interference.

Mr Desmond Tay, CEO of VCC, commented: “The launch of our smart eCO solution will make VCC the first in the trade and logistics industry to introduce the capability to make our eCOs immutable. This blockchain capability will be incorporated into other components within our CamelONE cross-border digital platform, making our platform even more secure and robust. As an industry leader with established partnerships and an extensive regional presence, VCC will strive to deliver continual improvements and innovations in our solutions to meet the rising global demand for the digitalisation of trade and logistics processes.”

Read more in the press release by clicking here