Business founders and British entrepreneurs have alerted governments on both sides of the Irish sea to a “simple solution” to fix the problem. Brexit border dispute in Northern Ireland. Alan Jones, CEO of the messaging app YEO, has pointed to a “direct” system using blockchain technology available that can track goods in transit and help eliminate customs friction for businesses.
Mr Jones told Express.co.uk: “It sounds very simple, but what you’re doing is you’re authentic and you’re sealing things in transit, and you’re tracking their position at all times.
“So it gives the government a very simple solution that fits the customs on both sides and provides something that is very easy to use, the documentation will be very easy.
“Through the use of blockchain you get an indisputable information trail at all stages, and with the geofencing code to unlock the seal to the destination depot, you can also be sure of the integrity of the goods sent.
“So very, very direct.”
He added: “I think there is now a technology that can guarantee the integrity of goods that cross the border and that will eliminate the friction and general overhead that we have now.”
It comes as the latest bid to restore Northern Ireland’s powersharing institutions has failed.
Attempts to elect a speaker of the Assembly – a prerequisite for reconstituting the devolved legislature – have always failed, due to the DUP’s blockade of Stormont operations.
Devolution in Belfast has been in flux since February when the DUP resigned the first minister from the governing executive protesting the economic border created in the Irish Sea by the Brexit Northern Ireland Protocol.
Brexit has taken a prominent place in the Conservative leadership contest with the next Prime Minister setting up a showdown with Brussels at least over how the Protocol works.
Liz Truss says she will boost investment and boost economic growth by taking “full advantage” of Brexit if she becomes prime minister. The Tory leadership hopeful said he would implement supply-side reforms, including Solvency II reforms and Markets in Financial Instruments Directive (MiFid) regulations.
Solvency II is a directive that codifies and harmonizes EU insurance regulations. MiFid is a regulation that increases transparency in the financial markets of the European Union and standardizes the regulatory disclosures required for companies operating in the EU.
His campaign said the move would free up billions for investment in UK infrastructure, energy projects and high-tech industries.