Blockchain and machine learning technologies have the potential to help ease larger cross-border criminal issues. GCN brought this interesting topic to us in their article, “Streamlining trade with emerging tech.”
Customs and Border Protection’s (CBP) Deputy Commissioner Robert Perez said the agency has started addressing technological changes impacting the shipping industry and customs processing. CBP is officially seeking comments on how to proceed with the plan.
The last time CBP tried to modernize trade processing systems was in 1993 with the Customs Modernization Act. The volume and speed of trade and the precision of shipping logistics has significantly changed the landscape since then.
CBP has already begun piloting a blockchain-powered system to manage certain trade-agreement certifications. Outside observers have cautioned the agency to keep its policies as up to date as its technologies.
Melody K. Smith
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