TradeTrust

TradeTrust is a framework developed by Singapore's Infocomm Media Development Authority (IMDA) that enables trusted interoperability of electronic trade documents across different parties. Launched in 2019, it implements the W3C Verifiable Credentials Data Model to issue and verify digital trade documents, particularly focusing on electronic Bills of Lading (eBL) and other transferable records in international trade.

The framework operates as an information mediator between the blockchain layer and application layer, supporting several key technical features:

• Payload-agnostic document handling
• Document verification using W3C Verifiable Credentials
• MLETR-compliant title transfer
• Identity resolution through DNS-TXT records
• Integration through smart contracts and connectors
• Open-source implementation under Apache 2.0 license

Notable implementations include a Netherlands-Singapore trial that reduced Bill of Lading transfer time from 6-10 days to less than 24 hours. The framework has received significant institutional backing, with partnerships including the International Chamber of Commerce, SWIFT, and various government agencies. According to the Digital Container Shipping Association, widespread adoption of TradeTrust-enabled eBLs could save the shipping industry $4 billion annually if 50% of the market adopts the technology.