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The Trade Worldwide Information Network (TWIN) Foundation, launched in May, aims to modernize global trade by digitizing its deeply paper-based processes — potentially unlocking $10 trillion in new trade value worldwide.
Despite international trade powering over half of the world’s GDP, it remains bogged down by complexity. Every day, 4 billion paper documents circulate to support cross-border transactions. A single shipment often requires 36 documents and up to 240 copies passed between 30 stakeholders — a costly inefficiency.
Reducing Trade Costs by 25%
According to the World Economic Forum, digital trade facilitation could cut trade costs by up to 25%. For Africa, where intra-continental trade accounted for only 15% of total exports in 2024, the opportunity is even greater. By streamlining customs processes and reducing paperwork, platforms like TWIN can help unlock the full potential of the African Continental Free Trade Area (AfCFTA).
In East Africa, pilot projects by TradeMark Africa and the IOTA Foundation using TWIN’s technology already cut customs clearance times from weeks to days and reduced trade costs by 30% — enabling faster access to European markets for Kenyan exporters.
A Transparent and Inclusive Digital Model
Unlike earlier attempts, the TWIN Foundation offers an open-source, interoperable platform that prioritizes transparency and inclusivity:
- Distributed Ledger Technology (DLT): For secure, transparent, and tamper-proof data exchange.
- Data Sovereignty: Each participant controls their own data.
- System Interoperability: Seamlessly connects with existing platforms via APIs.
- Non-profit structure: Designed as a public good to democratize trade access.
Initiatives already underway include MISSION (reducing EU port congestion), RESULD (digitizing Kenyan-European produce trade), and TLIP (streamlining trade documents).
The Road Ahead
Headquartered in Switzerland, TWIN’s next steps include scaling its infrastructure globally, with an emphasis on emerging markets like Africa. In 2025, its technology will become publicly available, inviting broader collaboration.
Also Read: IOTA’s $1.2 Trillion Opportunity: TWIN Set to Disrupt Global Trade Infrastructure
For global trade — especially for small businesses — TWIN promises faster, cheaper, and more transparent participation in international commerce, transforming a system long overdue for change.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
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