![]() ![]() By treating electronic documents as legally equivalent to paper documents, the act enhances security, compliance, and record tracing, particularly through the use of blockchain and distributed ledger technology. The Law Commission for England and Wales estimates that billions of paper documents are exchanged annually for global shipments, and the act aims to address this issue. The act is technology-neutral and will accommodate blockchain technology if it meets the necessary reliability criteria. The Electronic Trade Documents Act 2023, which recently became law, will allow trade documents to be stored and distributed digitally, effectively reversing centuries-old merchant laws. government has announced plans to digitize trade documents using technologies similar to cryptocurrencies. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |