The port software company Jade Logistics is launching a new business using blockchain technology to increase trust in supply chains.
Jade Logistics's Christchurch-based CargoChain platform was born from the inability to share supply chain information between multiple parties.
"We first looked at it with the ports and then we looked at the whole supply chain, and the problems were the same," said David Lindsay, CEO of CargoChain.
After five years of research and development, CargoChain has created a platform for sharing and innovating load information that supports the distribution of previously unavailable load information, as well as the development of third-party applications.
"We believe the collaborative and independent nature of the CargoChain platform is the first for global industry," said Lindsay. "The proposal is made even more powerful as today's consumers require trust, while those involved in the supply chain require full transparency and visibility."
Blockchain is an integral part of the CargoChain platform, offering a functioning blockchain solution for customers.
The main objective of the company is to enhance the supply chain by providing its platform to the application developer communities globally.
"We want to enable developers to solve global supply chain problems for all logistic players, big or small," added Lindsay.
The CargoChain applications are already under development for a number of Australian and New Zealand customers, along with pilot projects for other major supply chain projects, said Lindsay.
In New Zealand there is also a significant interest from leading food exporters, driven by the need to demonstrate full provenance with an emphasis on trust and food safety.
Jade Logistics is owned by the US Health Investors after the separation from the Jade Corporation of Christchurch in 2017.
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