Logistic and supply chain company DP World Australia, the Australian branch of DB Schenker and a major carrier company have partnered on a consortium backed by blockchain technology from blockchain start-up TBSx3.
The participants intend to use blockchain architecture developed by Australia-based TBSx3 to combat the global counterfeit goods industry, protect global supply chains and help companies restore consumer trust in supply chains.
The alliance tested and utilised technology developed by TBSx3 in Q2 2017 to complete a large global blockchain trial, which tracked the distribution of wines from Coonawarra, South Australia to the port of Qingdao in northeastern China and was verified by professional services firm KPMG.
The trial used TBSx3’s blockchain logistics platform, which aims to defeat the threats of counterfeits through three layers of protection: cryptographic certainty, logistics tracking backed by artificial intelligence and the immutability of blockchain technology.
“Blockchain technology opens new possibilities for industry co-operation,” said Pieter Vandevelde, Chief Revenue Officer, TBSx3. “Our aim with forming this alliance is to reignite trust in every link in the supply chain and create a more transparent, ethical ecosystem of international trade.
“We are willing to do business with anyone serious about ridding the world of fake products and protecting consumer trust.”
Paul Scurrah, CEO of DP World Australia, noted: “I knew it was a great opportunity for DP World to become engaged in a new era of industry collaboration. The scale of the fake goods problem is staggering and our company is eager to work with TBSx3 and our industry partners to provide a lasting solution.”
Charlie Mcdonald, Chief Information Officer, DB Schenker, added, “Data security is the core to modern business risk management and we are excited by blockchain’s potential in this area. The concept of protecting that data through a distributed ledger system holds great promise.”