Global Trade Item Token (GTIT) Tokenization
By TRADE GATEWAYS (TG)
Incorporating the GTINTOKEN Standard
Which Builds on the Familiar Barcode Structure
To bring in a new way of doing Trade
TG Comprises over 300 Digital Trade Gateways
The GTIT Platform facilitates Trade Digitization
TRADE DIGITIZATION AND TOKENIZATION PLATFORM PROVISION
ABOUT TRADE GATEWAYS
TRADE GATEWAYS is operated by Local Merchant Services as an IBM Partner Programme. It provides an Infrastructure For Trade Digitization with over 300 Digital Trade Gateways. TRADE GATEWAYS co-operates with B2B Marketplaces with millions of subscribers...
SELLING ON TRADE GATEWAYS
Users can access a centralised trade assistant to help them at Trade Gateways.
Trade microsite and centralised Tokenized Products catalogue.
Users can create a trade microsite that they can use to feature their products from. An Asset Tokenization Platform is provided by TRADE GATEWAYS to Tokenize those products so they can be Digitally Traded.. That platform is the GTIT Platform. The Identifier on the GTIT platform is the same Identifier as in the Trade Microsite (the SKU)
What is Tokenization?
Tokenization refers to the process of creating a token on a blockchain that represents an asset. Tokenization of products on TRADE GATEWAYS is a representation of products being traded across the TRADE GATEWAYS Network.
Tokenization gives asset holders access to benefits that include instantaneous settlement and programmability, i.e., the ability to embed code in the token, and the ability of the token to engage with smart contracts—enabling higher degrees of automation.
What is AN ASSET Tokenization Platform?
Asset tokenization platforms enable the creation of a digital proof of ownership for real-world liquid assets such as trade products.
These asset-backed tokens have real-world capital and liquid value. Digital assets offer a flexible system for managing digital assets and facilitating transactions. Once assets are tokenized, they can be used for transactions across the world
Asset Tokenization Programme
Global Trade dentifiers are used to look up product information in a database (often by entering the number through a barcode scanner pointed at an actual product).
The uniqueness and universality of the identifier is useful in establishing which product in one database corresponds to which product in another database, especially across organizational boundaries.
Adoption of tokenization is held back by limitations of the available infrastructure.
The TRADE GATEWAYS GTIT Asset Tokenization Platform provides a simple one stop shop for tokenizing products and Digitizing trade, i.e. providing the custody, distribution, trading, management and servicing of those tokens, as well as digital payment mechanisms using smart contracts, and transferring ownership of products once payment is made
The Token Asset Tokenization Platform is a platform for Tokenizing products or accessing and featuring Tokenized products from a TRADE GATEWAYS seller account.
Digital Trade is an incoming wave. Businesses need to embrace it or be swept away by it. TRADE GATEWAYS provides the infrastructure to Digitize Trade and an assistant to help with it
The Trade Digitization Process on TRADE GATEWAYS
Trade is pretty much done the same way today as it has been for the last 200 years. Possession of paper documents of title represent ownership. Things are changing, and TRADE GATEWAYS is helping with this.
Cooperation with GS1 on the GTINTOKEN Standard
What is GS1?
GS1 is an international organization developing and maintaining standards for barcodes and the corresponding prefixes. The best known of these standards is the barcode, a symbol printed on products that can be scanned electronically.
GS1 has 116 local member organizations and over 2 million user companies.
Co-operation with GS1
A co-operation is being arranged with GS1 on incorporating the GTINTOKEN Standard to use the familiar Barcode Structure developed across the Globe by GS1 over the last 50 years to help bring in a new way of doing trade using Trade Digitization.
The initial campaign with GS1 is on using ETHICALLY SOURCED Mark as an Ethically Sourced Identifier on the GTIT Asset Tokenization Platform.
The proposal is that the GS1 Global ecosystem is used to help launch a new standard for tokens of Ethically Sourced Products. This should be actively promoted by GS1 through its resellers and network, and could provide real benefits in today’s world
GTIT for Ethically Sourced Products
Products can easily be identified as being Ethically Sourced by the use of their GTIT for Ethically Sourced Products.
The format of the GTIT is (ES)-(Symbol of country of origin)-GTIN, where ES represents the fact that the product bears an Ethically Sourced Mark, the featuring of the Country of origin, also shows where the required Certificate of Origin is from, and the GTIN is the GS1 Unique Global Trade Identifier.
The featuring of the ES mark also determines the smart contracts that will be utilized for the transaction, which are specific to Ethically Sourced Products. This means that just by looking at the GTIT, it will be possible, at a glance, to have much of the relevant information for the transaction. The GTIT will also help facilitate the Trade Digitization process for the Transaction.
ESN features thousands of Ethically Sourced Suppliers. ESN is building a new ecosystem and new paradigms in Ethical Sourcing and Carbon Reduction. ESN operates a B2B Platform for Ethically Sourced Products in this regard as well as FairTrade Products
A recent survey found 66% of consumers are more likely to buy products that are ethically sourced. The global market value of ethically labeled, packaged food products is around 1 trillion U.S. dollars. The ability to immediately identify products as being ethically sourced is very important in today’s world.
This Programme for Ethically Sourced Products can be very helpful in this regard.
ESN also Operates a Carbon Reduction Programme for Ethically Sourced Products. This is particularly relevant in today's world. ESN provides a Trade Digitization Resource for Ethically Sourced Products.
ESN Provides the Ethically Sourced Mark to help easily ascertain products as being Ethically Sourced.
ESN facilitates a Distribution Network for Ethically Sourced Products.
TRADE GATEWAYS Co-operation with TradeKey
TradeKey is a B2B Marketplace partner in the TRADEGATEWAYS Programme. TradeKey is a global B2B platform established in 2006 and has a distinguished presence globally. TradeKey is one of the largest international E-Marketplaces for exporting and importing. It has about 10 million registered users.
Millions of people visit TradeKey every month. Companies using TradeKey, can now use the TRADE GATEWAYS Programme to digitize and facilitate accruing Trade
TRADE GATEWAYS Portals and B2B Marketplaces
In Co-operation with major B2B Marketplace partners, with many millions of users, The TRADE GATEWAYS network helps businesses market their products internationally, find genuine buyers, satisfy their business requirements and explore regional and international Business opportunities.
Our global network of over 300 Digital Trade Gateways gives users a unique advantage. Users can feature Trade Microsite in over 300 Digital Trade Gateways that are part of our Network.
The Tokenization Platform provides a simple one stop shop for tokenizing products and Digitizing trade, i.e. providing the custody, distribution, trading, management and servicing of those tokens, as well as digital payment mechanisms using smart contracts, and transferring ownership of products once payment is made.
Once a sale is agreed at an applicable B2B Marketplace, the Tokenization Programme is used to tokenize and facilitate the transaction. Logistics partners at Relevant Local Digital Trade Gateways are used to provide End To End Logistics and execute the Transaction.
End To End Logistics Provision by TRADE GATEWAYS Partners
Our Logistics Partners can help to take much of the pain out of International Trade by providing End To End Logistics.
TRADE GATEWAYS Logistics Partners provide and manage supply chain solutions for thousands of companies every day – from the small family run business through to large global corporations.
Their focus is on transparency, productivity and scalability. Their reach is global, yet their presence is local and close to customers.
They have 75,000 employees in more than 80 countries who deliver great customer experiences and high-quality services. They help keep supply chains flowing.
Significance of the TRADE GATEWAYS Network
Rather like the analogy of the ports or airports network. Each one has the infrastructure to get you from point A to point B. The wider the network, the more places you can get to.
The TRADE GATEWAYS Network is also significant because of the interoperability of the system with other Platforms.
Adoption Of a New Way of Ownership Title and Doing Trade
A table in the form of a token registry contract can be used to record the ownership information of tokens by mapping the token identifier (ID) to the owner’s wallet address.
This has major implications for Trade. It means goods can be easily digitally traded and financed across borders. The availability on a public blockchain facilitates the interoperability of electronic trade documents demonstrating ownership being exchanged between different digital ecosystems.
TRADE GATEWAYS helps to Digitize Trade by facilitating the digitizaton of 2 types of trade documents. These are:
The digitally signed file is committed to a Document Store smart contract on a Public Blockchain, which serves as an immutable ledger. This signed file is then distributed to recipients, who will be able to easily verify the file
The data flow is similar to in the Verifiable Documents, but instead of using a Document Store smart contract, a Token Registry smart contract is used.
NEWS FROM THE EXCHANGES