Memorandum of Understanding signed with Singapore-based company Perlin, one of the global leaders in new digital technologies

On behalf of the Government of Montenegro, Minister of Science Dr. Sanja Damjanović signed a Memorandum of Understanding with Singapore-based company Perlin Net Corp, one of the global leaders in the field of blockchain, or distributed ledger technology (DLT).

In partnership with the International Chamber of Commerce (ICC), Perlin has established the Centre of Future Trade (CoFT), as a digital platform for developing pilot programmes in the field of trade based on blockchain or DLT technology. This platform is also supported by Enterprise Singapore, the country’s trade authority, which encourages the development of the trade activities. One of the main goals of CoFT is complete digitalisation, i.e. an aspiration for companies to move from existing systems to digital blockchain platforms in order to meet the challenges of the modern age.

Minister Damjanović indicated that she was looking forward to future cooperation with such a renowned company as Perlin, as well as that the act of signing of the MoU enabled our country to access numerous pilot programmes implemented within the Centre of Future Trade. In this regard, she added that those technologies would help us to move away from the traditional business models and significantly improve business transactions that would become more efficient and reliable with the use of new digital technologies. The MoU is also in line with the recently adopted Smart Specialisation Strategy, where ICT is identified as one of the strategic priorities (as a horizontal platform) supporting the other three priorities of the Smart Specialisation Strategy – Minister Damjanović concluded.

Following the act of signing, Perlin’s representative – Claudiu Filip gave a brief presentation on the company’s business operations, highlighting the opportunities offered by the technology, as well as the global industry innovations driven by its application. He also said that he was very pleased that the Government of Montenegro would cooperate with Perlin, as the company provided clients with assistance in the process of digitalisation of the international trade space through processes, systems and documentation. Finally, he added that he hoped that our country would set an example for other countries in Europe and the world in terms of digitalisation given that those advanced technologies led to more efficient business in the field of trade and to the improvement of environmental sustainability.

The Memorandum provides an opportunity for Montenegro to cooperate in one or more of the following pilot programmes:

- INDUSTRIAL RESEARCH – the activities here are focused on support to innovation in global trade and industry, including the issues of quantifying savings and increasing efficiency by moving to a digitalised way of doing business;
- CLARIFY PILOT – focusing on the development of supply chain transparency and traceability in order to support more sustainable supply chains across industries globally;
- CERTIFY PILOT – developing tools for verifying the authenticity of products to strengthen anti-counterfeiting and anti-piracy measures;
- SmartINCO PILOT – aiming to develop new customisable and “smart” Incoterms rules, (smartINCOs), with a view to help facilitate trade by reducing costs and barriers, which will lead to democratisation of access to international trade;
- GLOBAL LEDGER INITIATIVE – the activities here are aimed at developing a globally accepted framework with standardised performance indicators for the level of fulfilment of the requirements related to sustainability, governance and ethics and ensuring open access for the state, business, and NGO sector and the citizens in this regard;
- HybridX Pilot – focusing on the mechanisms of support to the global digitalisation of trade during the transition from paper to electronic system of doing business through the development of a system for replacing the classic bill of lading with an electronic one;

- Digitalisation of public services – encompassing the activities that seek to enable the provision of improved and timely services at lower internal costs.