Perlin & the International Chamber of Commerce to Establish Centre of Future Trade in Singapore

The CENTRE OF FUTURE TRADE will serve as an open digital platform to
deploy blockchain commercial pilots and drive innovation in the global
commodities industry, potentially benefiting 45 million business members
globally.

SINGAPORE–(BUSINESS WIRE)–Perlin
Network and the International
Chamber of Commerce (ICC) will establish a regional Centre of
Future Trade (CoFT). Announced at the annual Global Trader Dialogue, Enterprise
Singapore, the government agency that drives the growth of Singapore
as a hub for global trading, will work with Perlin and ICC to coordinate
and drive commercial adoption of leading-edge blockchain technology by
major commodity players. A key goal of the CoFT will be to help
companies transition from existing paper-based systems to digital
blockchain-based platforms, which are significantly cheaper, faster,
more secure and efficient.

Welcoming this private sector-led initiative, Mr
Satvinder Singh, Assistant CEO of Enterprise Singapore said,
“Enterprise Singapore is pleased to see the ICC and Perlin working
together on the CoFT, which embraces the use of innovation and
technology as drivers of transformation for the commodities trading
sector. The Centre capitalises on Singapore’s strengths as a leading
trading hub, its skilled talent pool, and strong connectivity to the
rest of the world. With CoFT, Singapore-based international trading
companies will have more opportunities to test and develop strategies
and new technologies that will put them in good stead to succeed in the
ever-evolving trading industry.”

Perlin is already deploying pilots across a wide range of commodities
based on applications it has already developed. The first is Perlin
Clarify providing full value chain traceability, to tap the vast and
growing market for solutions working towards the UN’s sustainable
development goals (SDGs), which is estimated to open up $12
trillion in market opportunities. The second is Perlin
Certify enabling product authentication as a powerful
anti-counterfeiting measure to attack global black markets for
counterfeit goods, which (if unabated) are expected to grow to $2.8
trillion and cost 5.4 million jobs by 2022.

The ICC, with 45 million members globally, will also actively support
the new CoFT by connecting its members to the platform. As recently
announced, Perlin has partnered with the ICC to engage with its vast
member base in 130 countries to drive blockchain adoption globally –
with a strong focus on fostering more sustainable industries. Perlin announced
the ICC adoption initiative at its recent 100 year anniversary
summit in Paris.

“As the world’s largest business organization representing 45 million
companies and more than 1.2 billion employees globally, ICC is uniquely
positioned to effectively encourage the uptake of blockchain-based
technologies at scale,” said John
Denton AO, Secretary General of the ICC. “Through our collaboration
with Perlin, we aim to create opportunities for our members to tap into
blockchain’s tremendous potential in areas such as supply chain
traceability, trade finance and anti-counterfeiting.”

Singapore is home 80% of the world’s top oil and gas, metals and mining
and agricultural companies.

“Perlin is proud of securing strategic and financial support from
Enterprise Singapore to help move trading and commodities businesses
away from paper-based systems to modern blockchain, distributed digital
platforms like Wavelet, Clarify, Certify and smart
contracts in trade finance,” said Dorjee
Sun, CEO of Perlin. “As a thriving hub for global trade and a vital
gateway to Asia, Perlin is in Singapore as a key strategic base for
deploying powerful new blockchain applications to power the future of
trade.”

For more information on Perlin and its enterprise products, see https://www.perlin.net/

Contacts

Darren Toh
darren@perlin.net