Port software company Jade Logistics is launching a new business using blockchain technology to boost trust in the supply chains.
Christchurch-based Jade Logistics' CargoChain platform was borne out of witnessing an inability to share supply chain information among multiple parties.
"We observed this first with ports and then looked across the entire supply chain, and the problems were the same," said David Lindsay, CEO of CargoChain.
Following five years of R&D, CargoChain has created a cargo information sharing and innovation platform that supports the distribution of previously unavailable cargo information, as well as the development of third-party applications.
“We believe that the collaborative and independent nature of the CargoChain platform is a first for the global industry," Lindsay said. “The proposition is made even more powerful as today’s consumers are demanding trust while those involved in the supply chain require full transparency and visibility."
Blockchain is an integral part of the CargoChain platform, delivering a working blockchain solution for customers.
The business's ultimate vision is to empower the supply chain by providing its platform to application developer communities globally.
“We want to allow developers to solve the world’s supply chain problems for all logistics players, large or small," Lindsay added.
CargoChain applications are already in development for a number of Australian and New Zealand customers, along with pilots for other significant supply chain projects, said Lindsay.
In New Zealand there is also significant interest from major food exporters, driven by the need to prove complete provenance with an emphasis on food trust and safety.
Jade Logistics is owned by USA Health Investors after it split from Christchurch-based Jade Corporation in 2017.