This is without doubt the most exciting #dltledgers release to date. It includes the first iteration of our groundbreaking new “Cognitive Document Automation” engine (CDA). CDA replaces the Digital File Cabinet (DFC) and offers the capability to cross-match different trade documents the moment they are uploaded into the blockchain. Using our new, and unique, combination of graphical processing technology and machine learning, CDA enables multiple parties to extract data from their trade documents, validate them for accuracy, match them against corresponding trade documents uploaded by counterparties (purchase orders, bills of lading, packing lists, invoices, etc), and provide blockchain authentication and consensus, all in one module. This is true “digitalisation” and a major step towards enabling our customers to unlock the value of their business transaction data.
With this release come the first of our “touchless trade” dashboards. These give customers the ability to launch their blockchain journey quickly, easily, and with no need for customisation. The key functionality involves the ability to assign different roles to users within an organisation. Instead of all users having the same view, with varying rights, account admins can now assign users with a specific view, depending on their job role. So far we have released dashboards for executives, traders, trade ops, and trade finance personnel, but more can be expected.
We have also enhanced our digital LC functionality. Customers can now:
- Select from multiple banking partners when submitting LC requests, amendments and confirmation in blockchain;
- Generate multiple LC requests in blockchain from their buy/sell (smart) contracts.
- Multi-party LC process for submission, amendment, and negotiation in blockchain;
- Submit LC requests directly via encrypted email, complete with e-signature and attachments;
- Submit additional documents requested by finance providers via secure upload, with data recorded automatically in the blockchain.
- Multiple bug fixes.