Teleport and the Hashgraph Group (THG) joined forces to co-develop a Digital Customs Documentation System (DCDS) to digitize and manage customs document lifecycle for cross-border trade, with its proof of concept specifically focusing on e-commerce movements and behaviour.
The system will offer what is dubbed as a first-of-its-kind capability for faster yet secure cross-border trade across Southeast Asia.
“We are excited to be working with Teleport on this state-of-the-art cross-border shipment logistics system that significantly enhances and streamlines the entire lifecycle of e-commerce parcels, from initial processing and accurate documentation to comprehensive tracking and final delivery. We are tackling a long-standing challenge in cross-border trade by reducing complexity and delays associated with customs documentation, leveraging agentic automation with lightning-fast transaction speed,” says Stefan Deiss, co-founder and CEO of The Hashgraph Group.
“We are committed to seeing traditional logistics integrated with Web3 technology to provide a single source of truth that is verifiable and immutable for seamless and faster customs clearance. Teleport, as a logistics company, will always be a physical business – but how we work must be digital-first. Therefore, we are always on the move to explore new ways, in both near and long-term horizons, to solve long-running industry problems with technology. We see opportunities to improve risk assessment and lower administrative costs as well as enhance the overall customer experience by unlocking and untangling what we can in our supply chain. The success of this solution will allow us to systematically be faster, cheaper and better, continuously,” adds Milan Dhingra, chief product and technology officer at Teleport.
Key takeaways:
· The system aims to help reduce parcel misclassification, documentation errors that typically come with multi-party handovers, and disputes that delay cross-border deliveries, among others.
· The system is designed to secure immutable shipping event records using Hedera’s distributed ledger technology (DLT) and seamlessly integrate with TradeTrust, an established framework that standardizes digital trade with enhanced security and legal certainty for the international trade ecosystem. It enables paperless and tamper-proof trade records that support broader digital customs documentation across trade flow, while strengthening customs risk assessment, reducing delays, costs, and manual effort required for customs clearance. It also integrates AI-assisted Harmonized System (HS) code validation to further improve classification accuracy.
· The Digital Customs Documentation system will use Hedera’s Consensus Service (HCS) to digitize and manage the full customs document lifecycle, initially focused on Malaysian cross-border lanes and high-volume domestic by-air routes.
