IOTA’s TLIP technology improves the efficiency of EU-UK trade after Brexit
- Discover how IOTA’s WLIP technology improves the efficiency of EU-UK trade post-Brexit.
- Real-time data sharing and reduced administrative overhead streamline trading processes.
As reported in a previous CNF post, in line with its mission to advance real-world applications of IOTA technology, the IOTA Foundation has created the Technology Adoption Department. According to the recent blog post “Innovating Digital Trade in a Post-Brexit Landscape,” the Trade and Logistics Information Pipeline (TLIP) aims to streamline trade between the EU and the UK by enabling real-time data sharing and reducing administrative burdens.
Improving trading with WLIP
In an official X account update, IOTA highlighted how TLIP will improve EU-UK trade post-Brexit by sharing data in real-time and reducing administrative burdens.
Discover how @TLIP_io (the Trade and Logistics Information Pipeline), powered by #IOTAis streamlining EU-UK trade post-Brexit with real-time data sharing and reduced admin overhead
1/5. Read about it in depth in our latest blog post: https://t.co/Vej5UIhSJ2 pic.twitter.com/XE6lpT4DBu
— IOTA (@iota) June 20, 2024
Powered by IOTA, WLIP is designed to create a seamless digital network for managing trading information, reducing the burden of administrative tasks.
Pilot study with Mobius technology
A pilot study involving Mobius Technology and IOExport demonstrated the effectiveness of the WLIP by informing border authorities in advance of the details of poultry shipments from Poland to the UK. This proactive approach helps reduce delays and ensure compliance, which is particularly important for perishable goods.
WLIP supports environmental, social and governance (ESG) compliance, promotes interoperability between different IT systems and ensures trust with verifiable credentials.
Interoperability and trust
The WLIP facilitates interoperability by connecting different IT systems via APIs, ensuring that trading processes are consistent and efficient. It also builds trust through due diligence and digital identity verification, reducing the need for manual document reviews.
This integration not only streamlines trading, but also meets strict ESG standards and supports high-quality auditing processes.
Next Steps
The WLIP-Mobius partnership will continue to develop new operational signals and plans to launch the first commercial platform for road freight transport between the EU and the UK after the pilot. This initiative is expected to further improve efficiency and compliance in EU-UK trade and leverage WLIP’s capabilities to create a seamless and trustworthy trading environment.
In line with general market trends influenced by innovative technologies such as TLIP, the price of IOTA has been up in recent days 0,99% on $0,1777 increased, although in the last week a 9.95% has fallen. See IOTA price chart below.
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