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What is Blockchain, and how does it work?
The blockchain is a decentralised digital ledger that records transactions across a computer network. Every time new transactions are added to the blockchain, a new block is created. Once a block is added to the blockchain, the information in it cannot be altered, making the blockchain highly secure and resistant to fraud. The decentralised nature of the blockchain means that any single entity does not control it, making it highly transparent and difficult to corrupt. The most famous blockchain technology is the one used by Bitcoin.
Portmade started as the department that dealt with all services not directly related to the CMB Ships in the Port of Antwerp, the second largest container port in Europe. They took care of many different services for CMB Customers, like container logistics, arranging transportation to and from the port, and customs brokerage services.
With 5 experienced declarants, they processed over 100,000 declarations each year.
What is a freeport?
A freeport is an area that benefits from suspended or preferential trading rules on certain commodities. This allows your goods to be imported for manufacturing without the need to pay full duty or VAT.
The United Kingdom
The UK continued to strengthen their post-Brexit relationships around the world in 2022. Here are some of their highlights:
In February, the UK and South Korea began talks over improving their free trade deal in order to deepen the ties between the two countries.
The decision was made after HMRC liaised with the industry about the deadline and the current use of CDS for import clearances. The two key reasons for the delay are:
The introduction of the internet and smartphones have changed consumer behaviour forever. No longer are wholesale traders making up the bulk of all international shipments, or high street shops the only way for you to access what you need.
With the growth of technology and digitalisation in everyday life and more developments to come, customs must also undergo a radical shift to keep up with the world of tomorrow.
In 2021, the European Union began to replace ICS with ICS2. Instead of upgrading the existing platform, ICS2 has been purpose-built and will be introduced in stages so that it can be tested and improved in real application. But what is the purpose of ICS2, and how will it affect you?
Businesses selling plastic goods have been able to leverage this, removing the costs and timelines of importing and instead choosing to print in their office or local workshop. But what are the limits of 3D printing, and how could progression in this industry relate to customs? Find out in this article.
How 3D printing works
3D printing uses a digital file to create a three-dimensional product. How this works is the printer adds small amounts of material in layers through a tube to build the shape, similar to how you would pipe on cake icing to create detail.
Customs Support Joins Finland’s AI accelerator FAIA
The AI accelerator develops the ability of SMEs to utilise AI solutions in internal organisational development and innovation, product and service development. Companies are embracing new AI solutions for selling services and their delivery to customers. Being part of the accelerator has given us many new ideas for further development and improvement of our services, aided by artificial intelligence. These AI solutions will translate into efficient collaboration with customers.
From the recent evolution of CHIEF to the Customs Declaration Service (in the UK), through to the digital connection of end-to-end clearances, the progression of IT systems has revolutionised the process. (Related: Will freeports open the doors to new technology?)