06:31:20 <RRSAgent> RRSAgent has joined #tradetrust
06:31:24 <RRSAgent> logging to https://www.w3.org/2023/09/13-tradetrust-irc
06:31:26 <tidoust> RRSAgent, do not leave
06:31:28 <tidoust> RRSAgent, make logs public
06:31:30 <tidoust> Meeting: Interoperable and verifiable credentials for cross-border trade
06:31:32 <tidoust> Chair: Rachel Yager, Kylie Goh
06:31:34 <tidoust> Agenda: https://github.com/w3c/tpac2023-breakouts/issues/12
06:31:36 <tidoust> clear agenda
06:31:38 <tidoust> agenda+ Pick a scribe
06:31:40 <tidoust> agenda+ Reminders: code of conduct, health policies, recorded session policy
06:31:42 <tidoust> agenda+ Goal of this session
06:31:44 <tidoust> agenda+ Discussion
06:31:46 <tidoust> agenda+ Next steps / where discussion continues
07:20:14 <tidoust> tidoust has joined #tradetrust
08:58:10 <Hendry> Hendry has joined #tradetrust
09:01:00 <tidoust> tidoust has joined #tradetrust
09:50:46 <hyojin> hyojin has joined #tradetrust
10:06:28 <rachely> rachely has joined #tradetrust
10:06:38 <rachely> agenda?
10:08:59 <rachely> agenda 1 = Speakers Introduction
10:09:13 <rachely> Agenda 2 = Background
10:09:35 <rachely> Agenda 3 = Digitalising Cross-Border Trade Documents with TradeTrust
10:10:08 <rachely> Agenda 4 = TradeTrust Demo
10:10:23 <rachely> Agenda 5 = Q&A
10:10:30 <rachely> agenda?
10:11:05 <rachely> Agenda 2 = OpenAttestation
10:11:23 <rachely> agenda?
10:11:27 <KyleHuang> KyleHuang has joined #tradetrust
10:11:50 <rachely> Agenda 2 = Background
10:12:13 <rachely> Agenda 3 = OpenAttestation
10:12:21 <rachely> agenda?
10:12:49 <rachely> Agenda 4 = • Digitalising Cross-Border Trade Documents
10:13:11 <rachely> Agenda 4 = Digitalising Cross-Border Trade Documents with TradeTrust
10:13:26 <rachely> Agenda 5 = TradeTrust Demo
10:13:37 <rachely> Agenda 6 = Q&A
10:13:41 <rachely> agenda?
10:13:52 <ryuichi> ryuichi has joined #tradetrust
10:14:04 <rachely> agenda+ Q&A
10:14:10 <rachely> agenda?
10:16:22 <rachely> zakim, start meeting
10:16:22 <Zakim> RRSAgent, make logs Public
10:16:24 <Zakim> please title this meeting ("meeting: ..."), rachely
10:16:35 <rachely> scribe+ rachely
10:17:38 <benoit_> benoit_ has joined #tradetrust
10:17:53 <benoit_> present+
10:18:07 <Sami> Sami has joined #tradetrust
10:18:07 <Tony_England> Tony_England has joined #tradetrust
10:18:08 <labrax> labrax has joined #tradetrust
10:18:09 <Tony_England> present+
10:18:10 <KyleHuang> present+
10:18:13 <labrax> present+ Sebastian Crane
10:18:17 <Sami> present+
10:18:34 <decentralgabe> decentralgabe has joined #tradetrust
10:18:35 <hsano_> hsano_ has joined #tradetrust
10:18:40 <hsano_> present+
10:18:40 <LaurensDebackere> LaurensDebackere has joined #tradetrust
10:18:44 <LaurensDebackere> present+
10:18:45 <decentralgabe> present+
10:18:46 <andres> andres has joined #tradetrust
10:18:49 <doniv> doniv has joined #tradetrust
10:18:51 <andres> present+
10:18:53 <David_turner> David_turner has joined #tradetrust
10:19:02 <David_turner> present
10:19:13 <doniv> present+
10:19:15 <rachely> take up item 1
10:19:26 <phila> phila has joined #tradetrust
10:19:32 <phila> present+
10:19:46 <rachely> Talk about overview of openattestation.
10:19:56 <hsano__> hsano__ has joined #tradetrust
10:20:00 <hsano__> present+
10:20:43 <rachely> prevent fraud and cost
10:20:43 <rachely> verification purpose
10:20:43 <Eric-Siow> Eric-Siow has joined #tradetrust
10:20:43 <Eric-Siow> present +
10:22:01 <rachely> openattestation 4 key attributes
10:22:44 <osamu-n> osamu-n has joined #tradetrust
10:23:22 <rachely> take up item 2
10:23:22 <rachely> OpenAttestation is an open-source document endorsement and verification framework created by GovTech in 2018
10:23:29 <doniv> Is there a link to the slides that I can open locally?
10:23:33 <rachely> At version 3.0, and on GitHub • More than 10M verification collectively globally in 2022
10:24:50 <rachely> Presentation:  [W3C TPAC 2023 2308906.pdf](https://github.com/w3c/tpac2023-breakouts/files/12596215/W3C.TPAC.2023.2308906.pdf)
10:25:01 <rachely> take up item 3
10:26:26 <doniv> Thanks for the slides!
10:26:26 <rachely> The challenges of cross-border trade documentation and the benefits of digitalisation
10:27:00 <rachely> Chair: Rachel Yager
10:27:07 <rachely> Inefficient Fragmented Systems • Manual handling • Vulnerable to fraud
10:27:37 <rachely> • Costly connections • No interoperability Cost of documentation is 20%* of cost of shipping This inefficiency is costly 20% *Maersk and IBM’s Paper Trail Research in 2014 ^McKinsey Study “The multi-billion-dollar paper jam: Unlocking trade by digitalizing documentation” in 2022 Shipping Cost
10:28:33 <rachely> Existential Symptoms and Issues to Digitalisation
10:28:42 <rachely> Human mindset prefer original hard copies.
10:29:11 <rachely> Lack of Trust • Transactions between companies with limited touchpoints • Companies forced to adopt paper as the most interoperable medium but struggle with determining authenticity and source of documents
10:29:23 <rachely> Digital Maturity Varies Across the Cross-Border Trade Value Chain • The entire ecosystem is at various stages of development • If one part of the chain is paper, all other documents revert to paper
10:29:32 <rachely> Siloed Digital Ecosystems • Existing technology solutions and platforms are generally not interoperable • Fractured ecosystem. Parties forced to choose one or multiple systems
10:29:45 <rachely> Legal Uncertainty of Digital Transferrable Documents • Until recently^, only paper Transferable Documents were legally valid under statute law • Therefore, transfers of title ownership via such documents could not be performed electronically
10:29:45 <Barry> Barry has joined #tradetrust
10:30:17 <rachely> Presentation:  [W3C TPAC 2023 2308906.pdf](https://github.com/w3c/tpac2023-breakouts/files/12596215/W3C.TPAC.2023.2308906.pdf)
10:30:33 <rachely> we are at slide 10
10:32:11 <rachely> ^Singapore’s 2021 amendment of its Electronic Transactions Act (ETA), one of the first few internationally, enables the creation and use of ETRs such as electronic Bills of Lading (eBLs), empowering practitioners to reap the benefits of digitalisation more easily.
10:34:03 <rachely> Tradetrust’s 3 key functionalities: authenticity, source & title ownership for trade documents
10:34:03 <rachely> TradeTrust is designed to provide industry the means to verify the authenticity and source of a document, as well as to create Electronic Transferable Records (ETRs) that are functionally equivalent^ to their paper versions (e.g. able to effect title transfers). • Uses Decentralised Identifiers (DID) and digital signatures to verify the source and authenticity of documents. • Uses Blockchain to create Non-Fungible Tokens (NFTs) to repre[CUT]
10:34:45 <rachely> TradeTrust is a framework
10:34:54 <rachely> Not a technology platform
10:35:08 <rachely> Slide 12:
10:35:38 <rachely> Take up item 5
10:35:44 <rachely> TradeTrust is a framework that comprises globally-accepted standards that connect governments and businesses to a public blockchain to enable trusted interoperability of electronic trade documents across digital platforms AND it is offered as a digital utility.
10:35:54 <rachely> 4 Key Components of TradeTrust
10:36:05 <rachely> Legal Harmonisation
10:36:17 <rachely> Standards Development
10:36:22 <rachely> Accreditation Framework
10:36:29 <rachely> Software Components
10:37:50 <McCool> McCool has joined #tradetrust
10:37:58 <rachely> A set of open-source software code that can easily integrate backend solutions to the TradeTrust network
10:38:11 <Jay> Jay has joined #tradetrust
10:38:16 <rachely> Presentation:  [W3C TPAC 2023 2308906.pdf](https://github.com/w3c/tpac2023-breakouts/files/12596215/W3C.TPAC.2023.2308906.pdf)
10:38:32 <rachely> Slide 13:
10:38:43 <rachely> TradeTrust’s Key Design Principles
10:38:43 <Jay> q?
10:39:02 <rachely> Public Blockchain
10:39:22 <rachely> Data Off-Chain
10:39:30 <rachely> Payload Agnostic
10:39:37 <rachely> Open-Source
10:39:49 <rachely> MLETR-Compliant
10:40:04 <rachely> agenda?
10:41:57 <rachely> Follow Presentation:  [W3C TPAC 2023 2308906.pdf](https://github.com/w3c/tpac2023-breakouts/files/12596215/W3C.TPAC.2023.2308906.pdf)
10:43:10 <rachely> slide 14: verifiable documents' interoperability
10:44:09 <rachely> slide 15: Dealing with transferable documents (Bill of Lading as an example)
10:46:08 <rachely> slide 16: Enabling transferable documents’ interoperability across different digital ecosystems
10:50:34 <rachely> slide 17: Typical pilot use case: cross-border trade financing involving eBLs
10:52:33 <rachely> little red thing is tradetrust and demonstrated decentralization
10:52:54 <rachely> slide 18 -  20 pilots with industry partners and overseas governments
10:54:34 <rachely> slide 19 - GLOBAL PARTNERSHIPS
10:54:49 <rachely> q?
10:55:07 <rachely> question?
10:55:15 <rachely> questions?
10:56:26 <rachely> Handout for the session: [OA_Handout.pdf](https://github.com/w3c/tpac2023-breakouts/files/12585290/OA_Handout.pdf)
10:56:52 <rachely> Demo
11:00:32 <rachely> •	Redactable eBL o	From a supplier, eBL can be reused for downstream supplier to its’ buyer. •	Renderer in this case is hosted by the original issuer. •	QR code allows a simple way to take part in the digital trade.
11:00:39 <rachely> agenda?
11:01:25 <rachely> slide 23:
11:01:44 <rachely> W3C Verifiable Credentials Interoperability
11:03:22 <rachely> Wrap Up
11:03:36 <rachely> •	Make OpenAttestation and TradeTrust successful •	Participate in the W3C Verifiable Credentials Working Group •	Website: https://www.openattestation.com/ •	GitHub: https://github.com/Open-Attestation •	Contact: openattestation_support@tech.gov.sg
11:03:44 <rachely> q+
11:04:07 <rachely> ack next
11:04:13 <Jay> q+
11:04:38 <phila> q+
11:04:39 <Sami> q+
11:04:53 <andres> q+ to ask about did discovery and how trust is established
11:05:06 <phila> ack Jay
11:05:13 <rachely> q?
11:06:07 <rachely> Why NFT?
11:06:31 <rachely> ack phila
11:06:50 <rachely> answer: no nft used
11:06:51 <Jay> ack Jay
11:07:34 <rachely> ack sami
11:07:35 <rachely> Phila - good work
11:08:07 <doniv> doniv has left #tradetrust
11:08:26 <rachely> Sami - does model support document updates?
11:09:47 <rachely> GovTech answer: changes are issued as separate. Original is not changed. Verifiable document will need to reissue.
11:09:52 <rachely> q?
11:10:04 <rachely> ack andres
11:10:06 <Zakim> andres, you wanted to ask about did discovery and how trust is established
11:10:39 <Jay> q+ to ask who will pay for gas for public blockchain.
11:11:00 <rachely> Andres - How do trust establish between the original document and the original materials/sources?  are there legal contract?
11:11:20 <rachely> Answer - openattestation uses DID methods.
11:12:22 <rachely> q?
11:12:27 <rachely> ack Jay
11:12:27 <Zakim> Jay, you wanted to ask who will pay for gas for public blockchain.
11:12:49 <rachely> question - public key?
11:13:13 <rachely> who will pay for the fees of public key?
11:14:53 <rachely> commercially not a straight forward. Some countries ban crytocurrency. Will using tradetrust get into trouble with local policy. Technical capability lacking.
11:15:43 <rachely> Answer:  some use EBL to mask the crypto and wallet.
11:15:43 <rachely> q?
11:16:11 <rachely> zakim, end meeting
11:16:11 <Zakim> As of this point the attendees have been benoit_, Tony_England, KyleHuang, Sebastian, Crane, Sami, hsano_, LaurensDebackere, decentralgabe, andres, doniv, phila, hsano__
11:16:14 <Zakim> RRSAgent, please draft minutes
11:16:15 <RRSAgent> I have made the request to generate https://www.w3.org/2023/09/13-tradetrust-minutes.html Zakim
11:16:22 <Zakim> I am happy to have been of service, rachely; please remember to excuse RRSAgent.  Goodbye
11:16:22 <Zakim> Zakim has left #tradetrust
11:16:23 <rachely> zakim, bookmark
12:05:13 <tidoust> tidoust has joined #tradetrust