Deloitte Completes Joint Pilot Digitizing Supply Chain Management on Multiple DLTs

Published at: Feb. 5, 2019

Big Four audit and consulting firm Deloitte has successfully completed a joint pilot for digitizing the supply chain on multiple blockchain networks, according to an official press release published on Feb. 1.

Within the new project, Deloitte has collaborated with the Hong Kong Stock Exchange-listed blockchain firm Kerry Logistics and CargoSmart, a Hong Kong-based company specializing in supply chain management.

Completed in late 2018, the platform’s Proof-of-Concept (PoC) is reportedly interoperable across different blockchains and cloud networks commonly used in global trading and finance, the press release says. By joining data on multiple distributed ledger technology (DLT) chains, the platform is designed to boost efficiency for the global shipping industry by making the exchange of digitized documents more transparent.

Paul Sin, Deloitte Asia Pacific Blockchain Lab Leader, stated that the firm looks forward to initiating more similar cross-industry collaboration in the blockchain space in the future.

Different blockchain’s interoperability has been one of the most important issues on the way for global adoption of DLT technology. Recently, the Head of Global Trade and Receivable Finance at multinational banking firm HSBC claimed that blockchain has the potential bring a unified ecosystem between the financial ecosystem and the supply chain, emphasizing that in order to be successful, the tech should be adopted widely and interoperable.

Recently, blockchain interoperability protocol Polkadot (DOT), created by Ethereum (ETH) co-founder Gavin Wood, has been reported to be planning to raise up to $60 million in an additional token sale that can potentially bring the fully-diluted market value of its tokens to $1.2 billion.

Tags
Adoption
Blockchain
Trading
Hong Kong
Mainstream
Deloitte
Related Posts
Building the blockchain community is essential for further developments
Cryptocurrency was built on the premise that a reimagined financial system could exist. It was brought to life by a community that supported these ideals and worked tirelessly to bring them to fruition. As the blockchain community grows, so does the recognition that cryptocurrency is important. According to Big Four audit firm Deloitte’s “2020 Global Blockchain Survey,” more than half of those surveyed believe that digital assets will be very important, while almost 89% of respondents feel that digital assets will be important to their industries in the next three years. Cryptocurrency remains the priority for the blockchain space within …
Adoption / Aug. 29, 2020
Athletics-Focused Crypto Exchange Lists Its First Sport Token
Cryptocurrencies like Bitcoin (BTC) are not new to the sports industry. Some NBA teams began accepting BTC as payment for tickets as early as 2014. Since then, the relationship between sports and crypto has been rapidly evolving. Today, a firm that claims to be the world’s first ever crypto exchange for sport tokens has rolled out trading for its first sports-focused coin. Chiliz.net, a Singapore-based sports blockchain venture and crypto exchange, has listed Juventus Fan Token (JUV), a blockchain token released by Italian professional soccer club, Juventus, in collaboration with sport-focused token platform Socios.com. Chiliz CEO says that Chiliz token …
Adoption / April 15, 2020
Chiliz Launches Crypto Exchange for Trading Sports Fan Tokens
Malta-based sports blockchain venture Chiliz is launching a cryptocurrency exchange for sports and entertainment tokens. In a press release shared with Cointelegraph on Jan. 23, Chiliz detailed that the new exchange — Chiliz.net — will roll out in February after the beginning of Fan Token Offerings for all of the Socios.com partner teams . Socios.com is a tokenized fan-voting platform for sports powered by Chiliz tokens (CHZ). Chiliz.net will be fully integrated with Socios.com, enabling users to transfer their fan tokens from a Socios wallet to the exchange, and vice versa. Chiliz and Socios.com CEO Alexandre Dreyfus claimed that Chiliz.net …
Adoption / Jan. 23, 2020
Deloitte Rolls Out Demonstrational Blockchain Platform
Big Four audit and consulting firm Deloitte has rolled out a blockchain-based platform designed to provide users with blockchain demonstrations and experimentations. In a press release published on Aug. 19, Deloitte revealed the launch of the Blockchain in a Box platform, which the company built based on customer interest in understanding blockchain capabilities in real world use cases. Demonstrational platform for prototypes Deloitte described the new platform as: “a mobile, self-contained technology platform capable of hosting blockchain-based solutions across four small-form-factor compute nodes and three video displays, as well as networking components that enable integration with external services, such as …
Adoption / Aug. 19, 2019
Hong Kong Stock Exchange Partners With Blockchain Firm to Improve Post-Trade Process
The Hong Kong Exchanges and Clearing Limited (HKEX) has partnered with blockchain firm Digital Asset to accelerate the post-trade process, financial news agency Finextra reports Oct. 31. HKEX had been working with Digital Asset to test a prototype system “in an effort to accelerate the post-trade process and reduce settlement risk.” According to Finextra, the system was tested by HKEX and the Shanghai and Shenzhen stock exchanges, in a collaboration called “Stock Connect.” The Stock Connect project lets international and mainland Chinese investors trade in each other's markets via their home exchanges' platforms to improve the efficiency of northbound trades. …
Adoption / Oct. 31, 2018