I’m excited to share my latest conversation with Stephan Wolf, where we dove deep into the fascinating concept of “zero trust” in cybersecurity. It’s a topic close to my heart, especially as we navigate the increasing demands for trust and transparency in the digital world. Zero trust means no assumptions — continuous verification is key, and minimal trust should be granted to systems.
We also touched on something that has been shaping the corporate world for over a decade: digital identity solutions, specifically the Legal Entity Identifier (LEI). Since 2012, the LEI system has been pushing for greater transparency and simplifying corporate identity verification. It’s a game-changer in reducing risks in business transactions, but there’s still a lot more to be done to reach true digital transformation in global trade.
Trade, unfortunately, remains stuck in the past, with PDFs and paper dominating in too many areas. It’s frustrating to see how these outdated methods lead to inefficiencies and confusion. While some countries are moving forward with digital solutions, we face big challenges in interoperability and the legal complexities around digital ownership.
The need for digitalization in trade is undeniable, but the resistance from network effects and a few large vendors is real. To ensure interoperability between platforms and systems, we are advocating for a decentralized trade protocol, a vision that draws inspiration from internet standards. It’s about creating a smoother, more transparent, and efficient trade ecosystem for everyone.
I’d love for you to join the conversation and share your thoughts on how we can overcome these barriers and drive the digital future of trade forward.
By Andrea Frosinini, Blockchain Supply Chain Association (BSCA)