Countries.Trade
Country Web 3 Trade Gateways From Prime Domains
By TradeDigitization.com (TDC)
Part of an IBM Partner Programme
Background
Countries.Trade is a version of Web3Gateways.com that is operated by TradeDigitization.com (TDC) which is an IBM Partner Programme.
Countries.Trade Facilitates Web-3 Trade Gateways for different countries. These Trade Gateways use the TDC Web-3 initiative.
Defining Web-3
Web-3 represents a transitional phase that integrates elements of both Web 2 and Web 3. It combines the collaborative and user-centric aspects of Web 2 with the emerging technologies of Web 3, such as blockchain, to enhance security, privacy, and data ownership without fully moving to a decentralized web.
Key Characteristics of Web-3
Interoperability: Web-3 ensures seamless interaction between Web 2 applications and Web 3. This includes the integration of decentralized finance (DeFi) protocols with traditional financial systems, allowing users to benefit from both ecosystems.
Progressive Decentralization: Web-3 serves as a stepping stone towards complete decentralization. It adopts certain decentralized elements, such as smart contracts and peer-to-peer networks, while maintaining some centralized features for ease of use and mass adoption.
Notable Quotes From Partners in the Parent TradeDigitization.com Programme
"Exciting Opportunity"
From TradeKey - The World's Largest B2B Marketplace
"We are looking forward to building a thriving partnership!"
From IBM - Global Leader in Blockchain , the cornerstone of Trade Digitization
The Importance Of Web-3
Web-3 will play a significant role in the gradual transition towards a fully decentralized web. It allows users and businesses to adapt to new technologies incrementally, reducing the disruption that a sudden shift to Web 3 might cause.
Future Prospects of Web-3
Web-3 offers a pragmatic approach to integrating emerging technologies while retaining familiar aspects of Web 2. As more businesses and users recognize the benefits, the adoption of Web-3 is likely to accelerate. With TDC, businesses and users can seamlessly embrace Web-3.
Web-3 For Trade
Web-3 facilitates Trade Digitization, which can facilitate transaction times by up to 98% and help make supply chains for efficient.
Demo of Web-3 for Trade
The demo can be seen HERE
(Please Click on the ADDITIONAL INFORMATION tab near the top of the page and scroll down )
There you will see the Web3 ID for the Demo Product which is: 6333114G063412.GTINTOKEN
The Web 3 ID of the Product, and can be used for Trade Digitization, if the parties wish to take up that option. NFTs for specific consignments of the Product can be generated as a function of the GTIN Token.
Such NFTs will provide proof of originality, ownership, authenticity, and conformity to the requirements of the sales contract.
Each NFT cannot be modified on the chain. As such, each NFT is a true certificate of ownership for the owner. It cannot be tampered with because it is immutable. The ownership rights are protected till transferred.
The NFT is committed to a Document Store smart contract on the Blockchain, which serves as an immutable ledger.
Required Trade Documents are also committed to the Document Store smart contract. Verification can be carried out on the blockchain.
The Token Registry smart contract effects transfer of ownership on payment.
This smart contract allows for the document ownership to be part of the immutable ledger.