Hierarchical blockchain architecture for global trade management
Described is a reactive hierarchical blockchain architecture, system, and methodology for Global Trade Management (GTM). The system includes a comprehensive suite of GTM applications and leverages multi-national content to deliver efficient cross-boarder transactions anywhere in the world. The tiered computer-implemented system and method allow development of distributed GTM blockchain solutions capable of processing enormous amounts of global content at scale to meet huge transaction volume. The hierarchical blockchain architecture further assures scalability of the GTM solutions described herein by reducing the need for performing extensive calculations on multiple blockchain nodes. The GTM blockchain systems can be standalone or they can feed information into on or more main International Trade (ITC) blockchains. Smart contracts for specific GTM operations are segregated among appropriate childchains and verified by integrated GTM applications executed on permissioned nodes. Various embodiments can store, analyze, and track GTM endorsements and events to help coordinate and maintain contractual obligations of service partners as well as monitor their performance.
1. A method of a blockchain comprising:
storing, on a Global Trade Management (GTM) computer, at least one blockchain client
generating, by the GTM computer a smart contract for a GTM process, and deploying, by the blockchain client, the generated smart contract to an address of a virtual machine on a child chain of the GTM process wherein the GTM process is selected from a group consisting of:
security surveys, database screenings, duty payments, goods clearance events, goods transfer, and goods classification;
running, by the childchain, the smart contract on the virtual machine
receiving, by the childchain, information from a third party computer
monitoring, by the executing smart contract, activity related to the GTM process on the childchain, by reading information received by the childchain
determining, by the executing smart contract, that the read information requires a digital signature and based on the determination, pushing a signature verification prompt to the third party computer;
receiving, by the executing smart contract, a digital signature, from the third party computer; and
adding, by the executing smart contract, the information to the childchain.
2. The method of claim 1 , wherein the third party computer includes a memory that stores at least one a set of geo-specific trade compliance rules and regulations, one or more security screening databases, one or more private screening databases, a set of security survey forms, one or more goods classification schedules, a public restricted persons list, and a security survey record listing all security surveys filed during the import or export process for the shipment of goods.
3. The method of claim 1 , wherein the digital signature includes a verification of a completion of one or more off chain aspects of GTM process.