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ICC Should Exercise Due Diligence @iccwbo
@XDCNetwork Participation The ICC Digital Standards Initiative Digital Trade Readiness Assessment lists XDC Network as one of the contributing organisations involved in developing the framework for evaluating digital trade capabilities.
The initiative itself is important. Efforts to digitise global trade documentation and improve interoperability across supply chains are long overdue and could significantly improve efficiency and transparency in international commerce. However, when institutions such as the International Chamber of Commerce bring external blockchain networks into discussions around global digital trade standards, thorough due diligence becomes essential.
There are currently ongoing allegations circulating within the digital asset community regarding @globiance and individuals connected to that ecosystem, including disputes raised by users about access to funds and unresolved platform incidents.
Some of those discussions also reference links between individuals involved in the #Globiance ecosystem and the #XDC Network community. These remain allegations and claims raised publicly by affected users, and the facts will ultimately need to be determined through proper investigation.
However, the existence of these allegations raises an important governance question: Has sufficient due diligence been conducted before incorporating blockchain projects into global digital trade initiatives? The frameworks being developed by the ICC Digital Standards Initiative could influence how digital trade infrastructure evolves globally. The credibility of contributors therefore matters enormously.
Before organisations become embedded in international standards discussions, it is reasonable to expect that: • governance structures are transparent • ecosystem relationships are clearly understood • unresolved disputes within associated platforms are examined This is not about opposing innovation or blockchain technology. It is about ensuring that the systems shaping the future of global trade are built with trusted, thoroughly vetted participants.
Where allegations and unresolved disputes exist within related ecosystems, it would be prudent for institutions like the ICC Digital Standards Initiative to take a closer look and ensure the integrity of the initiatives they are leading. Global trade infrastructure deserves nothing less than full transparency and responsible governance.
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