Hosted by the International Chamber of Commerce, the Digital Standards Initiative is committed to promoting policy coherence and harmonising digital trading standards for the benefit of businesses, governments, and people everywhere. Working with established standard-setting bodies and international organisations, the ICC Digital Standards Initiative will drive greater adoption of existing standards and create new frameworks to unify digital trade processes.
The ICC Digital Standards Initiative will resolve key challenges facing trade digitisation efforts, including:
- Lack of coherent standards for developers, executives and policymakers
- Legal uncertainty regarding the acceptance of digital trade documentation
- Platform rulebooks that hinder cross-platform title document
- Unclear requirements for foundational trade standards
- Insufficient standards to simplify blockchain and non-blockchain based integration
The ICC Digital Standards Initiative is establishing a globally harmonised trade environment to address these challenges and bridge digital standard gaps.
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Recent innovations to digitise the global trading system have had the unintended consequence of fragmenting the market between platforms. There is a clear need for a trusted, independent and neutral body to lead the effort to connect digital islands.