Global eTrade Services (GeTS) an international trading platform announced that it is collaborating with Hong Kong based Swivel Software Limited.
According to PR News Wire report on Oct. 8, its entire network of customers will operate on GeTS’ Open Trade Blockchain (OTB).
Tracking in Supply Chain Through Swivel
Swivel is a logistics technology provider that facilitates the tracking of goods in the supply chain among its multiple stakeholders in over 30 countries.
Tracking within the ecosystem of importers/exporters, truckers, customs brokers, insurance and financial service providers and air and ocean carriers can now be made easy through blockchain in the supply chain. Customers will be able to alleviate fraud, and document modifications because of the immutable audit records.
Through the OTB, the customers will be able to secure the exchange of shipment data and trade documents such as the Bill of Lading, Commercial Invoice, Insurance, and Contracts, providing an immutable audit trail while providing trust among the stakeholders.
Partnership to Improve Global Supply Chain Network
Mr. Chong Kok Keong, CEO of GeTS said:
“We are delighted that Swivel is leveraging on our blockchain platform to enhance their supply chain’s data authentication. By having peace of mind with the use of trusted data, we can make global trade more accessible, easier and predictable.”
Ms Mandy Mak, COO of Swivel Software said:
“We are excited about this collaboration with GeTS and together be part of a global platform. Alongside with GeTS, we look forward to new endeavors and opportunities to offering more trusted and value-added services to our worldwide network customers in the supply chain sector.”
Mr Eugene Wong, Chaiman of GeTS said:
“Trade by nature is borderless, and by combining the inherent reliability of Blockchain, we are able to bring users from over 30 countries to transform and improve their supply chain, speed up processes and boost efficiency.”
Blockchain Supply Chain in Other Projects
On Sept. 24, cryptonewspoint reported that Srijan Technologies, a private company in India, has declared that it is supporting a group of researchers at the Indian Institute of Technology (IIT), Delhi in a project that will be using blockchain to track honey from farm to retailer in order to extract illegal additives and impurities along the supply chain.
MediConnect, a blockchain startup, has completed the workflow for the Proof-of-Concept (PoC) designed to record medications through the supply chain and started began integration of online pharmacy UK Meds’ processes to its platform.
Meanwhile, Walmart Inc is piloting a blockchain project to trace shrimps sourced from India, Andhra Pradesh while being shipped to selected locations of Sam’s Club in the US.
Source: prnewswire.com | Image: aithority.com