Kenya is ready to launch its first cryptocurrency Blockchain known as currency tmxglobalcoin.com
Its developers believe that this technology will save the logistics business in Africa from the problems encountered in the sector of imports or exports as price increases caused by the value chain in the sector
Speaking to Nation.co.ke, TMX CEO Anthony Njoroge said that among the claims they get in the import and export sector include loss of ownership during the import process and they hope that the Blockchain technology will improve the way traders do business.
"We are using Blockchain technology to enhance the logistics of goods in a more open, transparent and democratic process using a decentralized system, in which all users are able to talk to each other on an open platform", called Njoroge.
He adds that various issues have been raised around the logisti cs Affari and above all because of unreliability, corruption and illicit trade.
The global currency TMX, through international partners from Asian and European countries, was able to close the value chain with transparency. Using a convenient interface, an importer or customer will now be able to find the best online stores among the thousands of options and then choose a suitable shipper to coordinate the shipment of the cargo.
Njoroge says that the consumer is able to order their products online, individually track their products and have the opportunity to review and understand all the required documentation even before starting the negotiation process.
"The consumer also knows the amount of money required during the different processes that the load is passing through and the estimated time.As the load successfully passes through a process, the system goes into the system as complete and starts the next process. ".
The cryptocurrency was developed in 2017 as a decentralized protocol that uses smart contracts based on Blockchain technologies and solves the problem of local and international logistics problems.
The goal of TMX Blockchain Logistics is to reduce costs and increase shipping efficiency by integrating shipping information on a secure platform accessible to shippers, carriers, shippers and others in the supply chain.
The first phase of the currency will be launched towards the end of September 2018 and it is hoped that by May 2019 the currency will be fully adopted in the trade sector.