Northern Ireland could become a global leader in computerisation of complicated trade documents to avoid a hard Brexit border

Patslatt1

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Northern Ireland could become a global leader in computerisation of complicated trade documents to avoid a hard Brexit border

Necessity is the mother of invention and Northern Ireland could out of necessity become a global leader in computerisation of complicated trade documents by introducing computerisation in projects for avoiding a hard Brexit border. The computer software and platforms have already been developed in some markets as described https://www.economist.com/news/finance-and-economics/21739159-administrative-obstacles-loom-larger-technological-ones-digitisation Implementation of the computer projects would need to be supported by software contractors in the UK and by financing from the UK government given the high costs involved.

Some key points in the article above:
[]International processing of trade documents costs as much as a fifth of transporting and warehousing goods
[]Full digitisation of trade paperwork would increase trade more than elimination of tariffs
[]Participants at all levels of trade are cooperating in software projects to digitise the paper trails, with some platforms including blockchains enabling all participants to monitor the details of ongoing trades in real time
[]Shipper Maersk and IBM have opened to all their blockchain digital trading platforms
[]Electronic bills of lading and electronic letters of credit are availble but have not been widely used
[]The 2008 UN convention on recognition of electronic documents has yet to be ratified by 40 countries for it to come into force
 


between the bridges

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Necessity is the mother of invention and Northern Ireland could out of necessity become a global leader in computerisation of complicated trade documents by introducing computerisation in projects for avoiding a hard Brexit border. The computer software and platforms have already been developed in some markets as described https://www.economist.com/news/finance-and-economics/21739159-administrative-obstacles-loom-larger-technological-ones-digitisation Implementation of the computer projects would need to be supported by software contractors in the UK and by financing from the UK government given the high costs involved.

Some key points in the article above:
[]International processing of trade documents costs as much as a fifth of transporting and warehousing goods
[]Full digitisation of trade paperwork would increase trade more than elimination of tariffs
[]Participants at all levels of trade are cooperating in software projects to digitise the paper trails, with some platforms including blockchains enabling all participants to monitor the details of ongoing trades in real time
[]Shipper Maersk and IBM have opened to all their blockchain digital trading platforms
[]Electronic bills of lading and electronic letters of credit are availble but have not been widely used
[]The 2008 UN convention on recognition of electronic documents has yet to be ratified by 40 countries for it to come into force
 

Patslatt1

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Same thread for the n-th time?
Different variation on a theme emphasises the business opportunities for IT entrepreneurs including possibly yourself. The importance of Brexit for the NI border is more important than the usual trivia.
 
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Patslatt1

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What do you need to know? The IFSC is a hub for Trade operations.
That's a bit cryptic. How about a few sentences of description on the hub? I thought the IFSC mainly worked on back office administration for international financial services companies and financings too small for the biggest financial centres like London.
 
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Patslatt1

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The Belfast alleged rape trial seems to have distracted readers from the OP about the tech solution to Brexit in the OP! Now that the verdict of not guilty is in, let's hope for more readers.
 

Buchaill Dana

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That's a bit cryptic. How about a few sentences of description on the hub? I thought the IFSC mainly worked on back office administration for international financial services companies and financings too small for the biggest financial centres like London.
And what do you think you are proposing is?
 

Patslatt1

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Necessity is the mother of invention and Northern Ireland could out of necessity become a global leader in computerisation of complicated trade documents by introducing computerisation in projects for avoiding a hard Brexit border. The computer software and platforms have already been developed in some markets as described https://www.economist.com/news/finance-and-economics/21739159-administrative-obstacles-loom-larger-technological-ones-digitisation Implementation of the computer projects would need to be supported by software contractors in the UK and by financing from the UK government given the high costs involved.

Some key points in the article above:
[]International processing of trade documents costs as much as a fifth of transporting and warehousing goods
[]Full digitisation of trade paperwork would increase trade more than elimination of tariffs
[]Participants at all levels of trade are cooperating in software projects to digitise the paper trails, with some platforms including blockchains enabling all participants to monitor the details of ongoing trades in real time
[]Shipper Maersk and IBM have opened to all their blockchain digital trading platforms
[]Electronic bills of lading and electronic letters of credit are availble but have not been widely used
[]The 2008 UN convention on recognition of electronic documents has yet to be ratified by 40 countries for it to come into force
MAGICAL THINKING?

Today's Times of London Irish edition "Border Guard" editorial says that a technology solution advocated by hardline Brexiteers for the Irish border does not exist and is derisory "magical thinking" in the EU's phrase.

While the technology does not exist, many of its aspects are being developed as described in the OP above. The main difficulties are 1.tracking and costing value added of products with components from more than one country 2.preventing cheating by shippers shipping across a frictionless Irish border 3.preventing smuggling 4. dealing with complications arising from Northern Ireland's dual status as having the equivalent of EU membership at the same time as full economic integration with the UK.

Regarding these points from the viewpoint of a hard Brexit:
Point 1, tracking value added already occurs in exisitng EU trade but in Brexit the scale of such tracking would increase dramatically. A component part shipped from mainland Britain to NI for export to the EU would have to be costed including its transportation cost. Where different components are manufactured and shipped together, problems would arise as to the allocation of transport and manufacturing overhead costs to the different components.
Point 2,auditing of shippers' records could minimise cheating. In accountancy audits of company accounts, a sampling of about 3% is sufficient for statistical reliability. In the case of tariffs, the percentage of audits might need to be higher.
Point 3,drones and hidden cameras should provide a relatively cheap way to monitor unusual traffic on byroads. Given potentially huge smuggling profits, smuggling gangs could become a serious national security threat like the Columbian cocaine cartels. That might necessitate considerable stopping and checking of traffic but to avoid the appearance of a restored border, the checks could be done inland by mobile units on both sides of the border.
Point 4, many mainland Britain companies might try to escape EU tariffs in hard Brexit by colluding with NI companies and similarly, many ROI companies might try to escape UK tariffs imposed on goods exported to mainland Britain. The solution is to audit shippers' accounts.

In conclusion, it would be interesting to have estimates of the cost of the software and audits needed to make MAGICAL THINKING practicable..
 
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