As part of the Smart Contracts Initiative, on the 28th July 2016, at the Blockchain Strategies for Business conference, the consortium's founder and Chief Architect Pindar Wong made an open call for participation to form an 'ICANN'-like body to facilitate the digitization of trade along the 68 Belt and Road Economies. Monthly meetings were held in Hong Kong on the last Thursday of each month.
As 1/3 of the Belt and Road economies follow the Muslim-faith, the first application of our Electronic-ID Dispute Resolution Process is to provide Shariah-compliant provenance for the trading of Halal-products along the Belt and Road (an open Halal Blockchain that implements Mudaraba, Musharaka, Murabaha, Ijara, Istisna'a, and Salam Islamic financing techniques). Additionally the Consortium will assist with Digital Green Finance to support greening of the Belt and Road Initiative. Together they define a Halal and Green Blockchain.
The consortium will provide input to the development of a Belt and Road Trade Arbitration framework.
For trade that originates or terminates along the 68 Belt and Road economies, the consortium is technically neutral but develops buy-side business standards for Electronic-ID Disputed Resolution Processes and standardized interoperable smart contract standards that increase trust and transparency in cross-border trade.