CANACERO and Transmute successfully conclude pilot demonstrating use of verifiable credentials in the steel trade

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This landmark initiative involved the collaboration of six major Mexican steel manufacturers, ArcelorMittal, Deacero, Gerdau Corsa, Outokumpu Mexinox, Tenaris, and Ternium.

Tech pioneer Transmute, and CANACERO, a prominent Mexican steel trade association, announced the conclusion of their first pilot programme. This landmark initiative involved the collaboration of six major Mexican steel manufacturers, ArcelorMittal, Deacero, Gerdau Corsa, Outokumpu Mexinox, Tenaris, and Ternium, testing the use of US Customs and Border Protection’s interoperability standards using Transmute’s Verifiable Data Platform (VDP) to issue and share verifiable trade credentials across the steel supply chain.

Commencing in April 2023, the pilot programme included onboarding of the six steel manufacturers onto Transmute’s Verifiable Data Platform (VDP) for testing. Participants immersed themselves in Decentralized Identifiers and Verifiable Credentials – the core technologies driving customs modernisation – by testing VDP’s features, including automated multi-party workflows and cryptographic signatures. The culmination of this journey was marked by CANACERO’s joining the US CBP Steel Tech Demo, a showcase illustrating the practical and commercial viability of the VDP, in collaboration with the US Department of Homeland Security.

“This milestone underscores our commitment to innovation, and re-enforces our dedication to fostering cooperative relationships with regulatory authorities. This future-forward technology positions the Mexican steel industry as innovative leaders in the global marketplace. We extend our gratitude for the opportunity to participate in this initiative and anticipate a future highlighted by compliant, efficient, and mutually beneficial trade relations,” said Salvador Quesada, CANACERO’s General Director.

“With Mexico becoming the US’ top trading ally as of earlier this year, we are thrilled to have partnered with CANACERO. The success of our pilot reaffirms the power of multi-stakeholder collaboration in redefining industry standards and providing tech-enabled solutions that meet the wide variety of interests involved in cross border trade. This is a testament to the vision shared by Transmute and CANACERO in shaping a future where trade documentation and data move as dynamically as commerce and the legitimacy of reputable trade participants and products is evident,” said Karyl Fowler, CEO of Transmute.