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It would be great if some of the energy that goes into NFT and crypto would be / have been invested by international bodies (e.g., the European Union) into creating a blockchain-based system for exports.
We (TECTRA Ltd) are in the middle of an export procedure to a “third state” (no, not the UK lol), and the paper-based documentation of the items to be exported, though not overwhelming, still reeks of bureaucracy. Zero signs of digital, except for the online system for the EORI issuance etc.
I’m no expert on blockchain, but I can envision a system like so:
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For a certain surcharge, the manufacturer mints an NFT that represents the equipment to be exported, and transfers ownership to the invoiced party.
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The invoiced party refers to the NFT in a digital export process that negates the need for print-sign-and-scan PDFs such as the EUR.1 movement certificate or the manufacturer’s Long-Term Declaration.
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Tangible export procedures requiring inspection, transport, etc. remain the same (physical, not digital).
This leads directly from the following: “NFTs have four main characteristics: they are unique, indivisible, transferable and capable of proving their scarcity.”
Now that the hype has cooled off, perhaps there are opportunities for applying blockchain to make processes better, instead of minting images of monkeys while still operating like monkeys in paper-based processes.
