DHL Announces Partnership With Global Blockchain Trade Finance Platform TradeIX
According to a presentation today, June 5, at the Money20/20 meeting in Amsterdam, DHL is collaborating with blockchain trade finance platform TradeIX,
Becky Taylor, Vice President of Commercials at DHL Supply Chain UK and Ireland, talked about how the organization has been hoping to make more effective systems through digitization, including an approach to “serialize products to be able to track that product through its life.”
Taylor at that point declared the association by saying that DHL all alone “can’t achieve those types of funding rates to create an attractive price [for customers], so we started to work with Trade IX.”
Daniel Cotti, CFO of TradeIX, noticed that the present absence of principles and interoperability in the trade finance market makes separated trade systems that depend on “manual, costly, tedious, error-prone and redundant processes.”
As per the introduction, blockchain innovation can control “leaner, more automated and error-free processes and increased visibility.” TradeIX’s TIX platform will supposedly enable DHL to “embe[d] multiple funding and risk mitigation options into their product offering.”
This isn’t DHL’s first attempt into blockchain tech – in mid-March, DHL and counseling firm Accenture reported they had mutually made a blockchain-based store network model for the pharmaceutical business.
In mid-May, the CEO of delivery service FedEx said that blockchain is the “next frontier” for worldwide supply chains.
