Singapore and Australia are implementing blockchain technology to simply trading across the border - Crypto World - CryptoTalk.Org Jump to content
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Singapore and Australia are implementing blockchain technology to simply trading across the border

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Crypto is very popular, with one of the main reasons for its popularity lying in the fact that you are able to to send money effortlessly, internationally with minimal fees and in a matter of minutes, if not seconds. This feature has chosen to be very attractive to many, apart from the security that blockchain is also able to provide. 

 

According to a recent article that was released on Coindesk, it seems that the Australia and Singapore customs offices are attempting to utilize the blockchain technology as a means in which to make trade of business documents much easier. The use of the blockchain technology will be targeted specifically at the sharing of electronic documents as well as the primary certificates of origin. 

 

Over the course of this time, it seems that the countries will report on the ease with which this system is used, and depending on the feedback this can be used in 2021 moving forward. This is a great use for the blockchain technology and truly shows its diversity. In my opinion, this method is likely to work out well, as the blockchain is able to provide great security as a system, and therefore the use of documents with blockchain should not provide any issues moving forward. this could be used in other countries as well, after this trial, furthering the adoption process of blockchain, and ultimately cryptocurrency as well. 

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It's great for implementation of Blockchain technology in management of borders trades. But I'm wondering which Blockchain will they use? Public Blockchain or Private Blockchain. And If Public Blockchain are used then is it ok for sharing the border information publicly? 

And also what about the nodes which will verify the information added in Blockchain🤔? If you could provide further information it would solve my query.

 

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NOTHING I SAY IS FINANCIAL ADVICE. YOU SHOULD USE YOUR MIND ,FOR YOUR MONEY,

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The importance f Block chain is no doubt is strong and UM.S have  take interest in block chain technology for implementation at defence of country where all the sensitive information is. Their for it's gonna be great for those countries to deal through block  chain and Bing crypto in to usage after getting feedback. The Bloch chain technology will satisfy them and clear the hurdles for crypto. 

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Im glad to hear that many countries start thinking about using blockchain technology that's may

be a good news for bitcoin and it may affect it's price peoples start learnings about cryptocurrecies

and blockchain become so popular

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I certify the information wanted. I already had the opportunity to find out about this news and appreciate it from your own words. I was delighted. Of course, these are advances that imply adoption and consequently the effect of copying by other countries, including other sectors, we also speak of health sectors, transport sectors and even sectors that imply the demography of certain countries where it is being studied. the possibility of implementing blockchain technology.


Always act with conscience and a sense of camaraderie and every time you make a post, stop for a moment and review in detail the posts of other members around you, so that you can give your respective reaction. :classic_wink:

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It's great that blockchain technology is further expanding its applications and use cases. Probably this trend will continue and eventually touch upon other important areas, like healthcare, energy, voting, taxes and a vast number of key areas. We are witnessing how blockchain applications are increasing every day and improving the current efficiency thanks to its innovative technology.

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Singapore and Australia are implementing blochchain technology to simplify procedures through their border trade, well this is another very important use of block technology, there all transactions are recorded and it is a transparent activity and has the facility that anyone who be within the block system can audit this trade in these countries, it is very easy to issue instant reports, that is to say at the moment they happen.

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In Singapore, these technologies are applied in several stages and in several places and areas of commercial markets, but in Australia this matter has not happened so far, and I expect that it is only a rumor or an attempt, but it has not been applied to reality.

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On 11/29/2020 at 4:43 PM, Ridam said:

It's great for implementation of Blockchain technology in management of borders trades. But I'm wondering which Blockchain will they use? Public Blockchain or Private Blockchain. And If Public Blockchain are used then is it ok for sharing the border information publicly? 

And also what about the nodes which will verify the information added in Blockchain🤔? If you could provide further information it would solve my query.

@Ridam At the moment i am not entirely sure about the details of the blockchain that they are aiming to use. I think that in time more information will become available, especially if the system turns out to be successful. Just from my perspective, i think that private blockchain is more likely the way that they will go simply because of the sensitive nature of the information that they are hoping to trade on the blockchain. If it is public it can prove to be dangerous for both the countries involved. As soon as i see more information on this i will be sure to keep you guys updated. apologies for not being able to answer your questions more accurately in this matter. 


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In the beginning, I would like to point out the difference between Blockchain and cryptocurrencies, Blockchain is not cryptocurrency, Blockchain can be used in many important matters such as mail, finance, education, tax system and other matters and recently the European Union countries started preparing a project to use blockchain technology linking these countries.
The most popular use of blockchain remains in cryptocurrencies, so countries that have adopted blockchain technology can accept cryptocurrencies in the future.

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 This would be a really good strategy adopted by Australia and Singapore. It is good to see that many countries have started to accept the potential possibilities of using blockchain technology. I hope that many more countries would start to accept blockchain technology for transferring funds as well as other necessary facilities which can be really helpful for them.

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Basically this is a very good step taken by both the countries in this way the transactions can be done in a very short time and the transaction fee will also be lower as low as possible. About today is a question that which blockchain they are going to use public blockchain or private blockchain. but this stuff is very good for both countries and it is recommended to our other countries to take this kind of steps.

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El 29/11/2020 a las 9:04, BrolySSJ dijo:

Las criptomonedas son muy populares, y una de las principales razones de su popularidad radica en el hecho de que puede enviar dinero sin esfuerzo, internacionalmente con tarifas mínimas y en cuestión de minutos, si no segundos. Esta característica también ha elegido ser muy atractiva para muchos, además de la seguridad que blockchain puede brindar. 

 

Según un artículo reciente que se publicó en Coindesk, parece que las oficinas de aduanas de Australia y Singapur están intentando utilizar la tecnología blockchain como un medio para facilitar el comercio de documentos comerciales. El uso de la tecnología blockchain estará dirigido específicamente al intercambio de documentos electrónicos, así como los certificados de origen primarios. 

 

En el transcurso de este tiempo, parece que los países informarán sobre la facilidad con la que se usa este sistema y, dependiendo de la retroalimentación, se puede usar en 2021 en el futuro. Este es un gran uso para la tecnología blockchain y realmente muestra su diversidad. En mi opinión, es probable que este método funcione bien, ya que blockchain puede proporcionar una gran seguridad como sistema y, por lo tanto, el uso de documentos con blockchain no debería proporcionar ningún problema en el futuro. esto también podría usarse en otros países, después de esta prueba, promoviendo el proceso de adopción de blockchain y, en última instancia, también la criptomoneda. 

What a great step these two successful communities have taken, let's hope and accept it throughout the country completely, that they understand once and for all that cryptocurrencies are here to stay and be the best that can be added to the financial market.

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Hello dear, as the news at the moment indicates that cryptocurrencies are developing very much, as they can trade in and invest in a very large way as cryptocurrencies have a wonderful and very important future in trade, and this matter indicates that electronic currency is the currency of the future

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On 11/29/2020 at 9:04 AM, BrolySSJ said:

Crypto is very popular, with one of the main reasons for its popularity lying in the fact that you are able to to send money effortlessly, internationally with minimal fees and in a matter of minutes, if not seconds. This feature has chosen to be very attractive to many, apart from the security that blockchain is also able to provide. 

 

According to a recent article that was released on Coindesk, it seems that the Australia and Singapore customs offices are attempting to utilize the blockchain technology as a means in which to make trade of business documents much easier. The use of the blockchain technology will be targeted specifically at the sharing of electronic documents as well as the primary certificates of origin. 

 

Over the course of this time, it seems that the countries will report on the ease with which this system is used, and depending on the feedback this can be used in 2021 moving forward. This is a great use for the blockchain technology and truly shows its diversity. In my opinion, this method is likely to work out well, as the blockchain is able to provide great security as a system, and therefore the use of documents with blockchain should not provide any issues moving forward. this could be used in other countries as well, after this trial, furthering the adoption process of blockchain, and ultimately cryptocurrency as well. 

Undoubtedly, it is how you say it friend, always in all matters of life open people who will not agree, this is due to the diversity of thought the same happens on this issue but nevertheless, you must continue to instigate people so that little by little they join us more.

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Just now, BrolySSJ said:

Las criptomonedas son muy populares, y una de las principales razones de su popularidad radica en el hecho de que puede enviar dinero sin esfuerzo, internacionalmente con tarifas mínimas y en cuestión de minutos, si no segundos. Esta característica ha elegido ser muy atractiva para muchos, además de la seguridad que blockchain también puede brindar. 

 

Según un artículo reciente que se publicó en Coindesk, parece que las oficinas de aduanas de Australia y Singapur están intentando utilizar la tecnología blockchain como un medio para facilitar el comercio de documentos comerciales. El uso de la tecnología blockchain estará dirigido específicamente al intercambio de documentos electrónicos, así como a los certificados de origen primarios. 

 

En el transcurso de este tiempo, parece que los países informarán sobre la facilidad con la que se usa este sistema y, dependiendo de los comentarios, se puede usar en 2021 en el futuro. Este es un gran uso para la tecnología blockchain y realmente muestra su diversidad. En mi opinión, es probable que este método funcione bien, ya que blockchain puede proporcionar una gran seguridad como sistema y, por lo tanto, el uso de documentos con blockchain no debería proporcionar ningún problema en el futuro. esto también podría usarse en otros países, después de esta prueba, promoviendo el proceso de adopción de blockchain y, en última instancia, también la criptomoneda. 

What a great novelty, this is a great boost to cryptocurrencies since they give an example to other companies or important countries to understand that cryptocurrencies are here to stay.

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It is a good idea to build on this new financial system. It provides everyone with some privileges, such as sending money in a short period from one region to another. It also does not need an intermediary, but some of these operations that have challenged the reliance on digital currencies are suspicious. This is why some countries do not rely on them in order to leave transactions exposed.

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Учитесь, учитесь и учитесь на своих ошибках :classic_smile:

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Bitcoin has proven that the best way to use the blockchain is with decentralized proof of work. Without mining being decentralized and having nodes around the world running the software it could not be as secure as some think. Secure means not being under the control of a single party. If a government makes a Bitcoin who will be responsible to secure the network and how is the data integrity verified and store securely? If one is in charge of a blockchain they can manipulate the data. Bitcoin has nobody in charge and an attack would be so costly that nobody considers it, all because of decentralized mining. Are these blockchains going to be the same?

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Blockchains can be used for a variety of reasons and these two countries have found ways that blockchain networks can help them. However blockchain systems may not be ideal for anything. Security is important and it is also good to remember that a blockchain is also vulnerable. We have seen blockchains getting attacked and perhaps with the increase of blockchain systems in everywhere, there could be attacks in them as well.

Edited by percare
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I have to admit that blockchain technology is great and it helps a little for Bitcoin to have some more popularity, but usually all the blockchain discussions don't have any cryptocurrency inside. When blockchain is discussed they leave out the financial aspect of crypto.

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Another great usecase of the blockchain technology, which gives even more recognition to cryptocurrencies for being based on Blockchain. The best technology for money can be used in many ways to help solve problems of the traditional markets and older technology that was ineficcient and unproductive.

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How interesting that large countries adopt blockchain technology for their benefit and the benefit of their people, this is something great that it would be good to see it around the world thus giving a great boost to cryptocurrencies.

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This is good for both countries and without the doubt using Blockchain technology will facilitate and improve the transaction better than the traditional bank system. And of course will be faster and cheaper. I know that a lot of companies and institution are surprised about the Blockchain technology process, for this reason are very interesting to it more than in cryptocurrency.


 

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It is something that is simply wonderful because it can always be improved and take into account that it is something that the world will be updating little by little and the cryptocurrency market is the future and it is good that countries implement this type of system to improve the transactions.

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