Morpheus.Network To Digitize Mongolia's Trade Certificates, Boosting Efficiency And Security

The Mongolia National Chamber of Commerce and Industry (MNCCI) is responsible for issuing Certificates of Origins (COOs) under various trade agreements, including the Generalized System of Preferences for 37 countries, the Asia-Pacific Trade Agreement (APTA) for six countries, and the Mongolia-Japan Economic Partnership Agreement (EPA). However, inconsistencies in COOs can lead to additional operational costs and delays, undermining the benefits of preferential treatment and increasing fraud risks.

To address these challenges, a preliminary technical assessment explored an innovative solution using Blockchain and Distributed Ledger Technology (DLT). This initiative was funded by the ADB Digital Learning Labs and coordinated with the ADB East Asia Department (EARD). The selection criteria required a solution that ensured security, efficiency, and authenticity while being adaptable to MNCCI’s expanding needs.

Morpheus.Network was chosen for their expertise in blockchain-based services. From April to November 2023, they developed a Minimum Viable Product (MVP) that digitized, tracked, and managed COOs' digital footprints on the Blockchain. This approach aims to overcome paper-based inefficiencies and provide an immutable record of COOs, enhancing security and trust among stakeholders.

The solution was designed to integrate seamlessly with MNCCI’s existing system, ensuring minimal disruption to operations. Despite the complexities of integrating blockchain technology into established infrastructure, Morpheus.Network delivered the solution within the designated timeframe and budget. Their problem-solving abilities and responsiveness to MNCCI's and ADB Digital Learning Lab requirements were noteworthy.

Future Prospects

MNCCI is keen on continuing to integrate and expand this solution through partnerships with international donor organizations. This initiative reflects their commitment to leveraging advanced technologies to enhance operational efficiency and security in trade processes.

About Morpheus.Network

Morpheus.Network focuses on helping companies and government organizations eliminate inefficiencies in supply chain operations. Their award-winning supply chain middleware platform leverages digital technologies such as ML/AI, IoT, and Blockchain. With over 150 integrations with leading companies like SAP, DHL, FedEx, Cargowise, Dimitra, Telefonica, Marsh, and Swift, Morpheus.Network helps clients maximize revenue through digitization and process automation.

Their platform aims to protect sensitive data while resolving complex issues within legacy supply chain systems. By delivering effective global trade solutions, Morpheus.Network continues to support clients in optimizing their supply chain operations.