The Case for Change
The ICC Digital Standards Initiative (DSI) was developed to embed the seamless digitisation of processes throughout the global trading system. Supported by Asian Development Bank and the Singapore Government to help solve for the key barriers hindering trade digitisation.
The COVID-19 pandemic has accelerated the adoption of digital technologies by businesses around the world, but significant barriers continue to prevent the full digitalisation of trade-related processes. Find out more about DSI.
Outdated regulatory environments for businesses to use hard-copy documents.
Siloed and incompatible digital systems hinder widespread digital adoption.
Lack of universal standards leads to fractured trade processes.
Operating Model
The ICC Digital Standards Initiative (DSI), based in Singapore, operates in accordance with the management standards of ICC and under the guidance of a Governance Board comprising policymakers from governments and international organisations, including the Government of Singapore, Asian Development Bank, World Trade Organization and World Customs Organization.
Strategy and core principles
The ICC Digital Standards Initiative will unify and digitise the global trading system by adhering to the following core principles:
Re-use rather than recreate
The ICC Digital Standards Initative advocates for the adoption of existing standards, when viable.
Engage standard-setting bodies
Leverage the expertise and knowledge of trusted standard-setting bodies.
Consider all approaches
Deliver standards that enable both blockchain and non-blockchain based approaches.
Accessible to all
Establish standards that are truly accessible to carriers, exporters, importers, banks, and customs agencies.
Enhance capacity
Ensure that the appropriate capabilities within relevant industries are leveraged to overcome challenges.
The ICC Digital Standards Initiative’s strategy is to:
01
Unify digital standards efforts across
alliance groups, industry forums, standards organisations, companies, and countries.
02
Spearhead and advocate for adoption of UNCITRAL MLETR:
United Nations Commission on international trade laws model law of Electronic Transferable Records (2017) across strategic trade nations and routes.
03
Overcome the interoperable rulebook challenge
Enable carriers, importers, exporters, banks and customs officials to have access to a uniform set of terms and rules concerning title management requirements.
04
Enable the Trade Standards Landscape:
Enhance access to standards that will accelerate the digitisation of trade-related processes.
05
Expand standards
to enable platforms to share information related to trade-related processes.
Governance Board
The ICC Digital Standards Initiative is backed by an international Governing Board that sets the strategic direction, objectives, and engagement structure of the initiative annually.
The ICC Digital Standards Initiative Governing Board comprises professionals from international organisations around the world to establish standards that work for businesses every day and everywhere.
The ICC Digital Standards Initiative Governing Board includes: