Late August witnessed a transformative showcase of Transmute’s Verifiable Data Platform (VDP) for enhancing trade security, regulatory compliance, and supply chain visibility.
AUSTIN, Texas–(BUSINESS WIRE)–#data—Transmute, a leader in supply chain data management and visibility solutions, announced the successful conclusion of its technology test with United States Customs and Border Protection (US CBP). Major commercial participants in the US CBP Steel Tech Demo included prominent Mexican-based steel manufacturing companies ArcelorMittal, DEACERO, Gerdau Corsa, Outokumpu Mexinox, Tenaris, and Ternium, collectively represented by CANACERO; as well as customs brokers AN Deringer, Customs Direct, Gontor, Mohawk Global, and Wisdom Digital Logistics. The completion of the Steel Tech Demo marks a significant milestone in trade digitization and supply chain security for industry and governments alike.
“The Steel Tech Demo is a culmination of nearly 4 years of work alongside US CBP and reaffirms the immense impact verifiable data technologies have in modernizing and securing international trade transactions from product origins to the end consumer,” said Karyl Fowler, CEO of Transmute. “This test demonstrates how our Verifiable Data Platform (VDP) can seamlessly interoperate with existing systems and processes to not only meet regulatory requirements in near real time but also unlock new levels of operational efficiency and unprecedented supply chain visibility.”
Transmute’s cutting-edge Verifiable Data Platform (VDP), built upon open standards technologies, was put to the test in a real-world scenario to issue, manage, and present critical trade documents using the innovative data format of verifiable credentials.
Current supply chains are weakened by reliance on tamperable paper documents, fragmented data silos, and opacity that threatens security and precludes resilience. VDP empowers organizations to take control of their supply chain, automatically transmuting data into verifiable credentials, protecting it with decentralized identity technology, and generating cohesive, actionable insights using linked data. This revolutionary approach not only bolsters the security of global supply chains, but also automates compliance with the US CBP’s 21st Century Customs Modernization and ACE 2.0 interoperability initiatives, streamlining regulatory processes and reducing compliance bottlenecks and spending.
“Global interoperability standards will help unify the approach to transparent supply chains within both the public and private sectors, streamlining communication and improving both security and facilitation,” said Vincent Annunziato, CBP’s Business Transformation and Innovation Division Director.
Transmute has worked through the Department of Homeland Security Silicon Valley Innovation Program (DHS SVIP) for four years to test and operationalize Transmute VDP ahead of US CBP’s upcoming requirements – the successful completion of the Steel Tech Demo informs Transmute VDP’s ability to transform and optimize the landscape of global trade by ensuring the integrity of trade documents, boosting transparency, and enhancing overall supply chain visibility.
“Our 2023 test created the possibility for more advancements. With bipartisan support, CBP will extend its commitment to global standards by testing its ability to verify the origin of transactions and issue credentials. The 2024 tests are a prelude to limited production for the five Silicon Valley Innovation Program projects (pipeline oil, steel, natural gas, e-commerce, and food safety) and the larger CBP modernization effort, the Automated Commercial Environment (ACE) 2.0,” Annunziato said.
The participating steel companies, represented by CANACERO, expressed their enthusiasm for the outcomes of the Tech Demo. “Our collaboration with Transmute and the US CBP has shed light on the future of trade documentation and compliance,” said Salvador Quesada, General Director of CANACERO. “By utilizing cutting-edge solutions like VDP, we are not only safeguarding our supply chain but also paving the way for increased value chain visibility.”
Mexico became the US’s top trading partner as of 2023, and the participation of the Mexican steel companies suggests even greater trade collaboration opportunities between Mexico and the US.
The success of the Steel Tech Demo sets the stage for future industry collaborations, underscoring the potential of verifiable data technology to reshape trade operations, prove the legitimacy and provenance of products and brands, enhance security, and streamline compliance procedures. Transmute remains dedicated to advancing the integration of verifiable data solutions in various sectors, driving innovation and creating a more secure, connected world.
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Transmute Verifiable Data Platform (VDP) transforms data from every stage of digitization and paper into secure, interoperable, machine readable, and context rich data. Leveraging cryptographically-secure verifiable credential and decentralized identifier technology, Transmute VDP empowers users to ensure data integrity, authenticity, and privacy throughout its lifecycle. With a commitment to innovation and security, Transmute VDP is revolutionizing the way data is managed and shared within the manufacturing and e-commerce industries.