Vice President of Commercial at DHL Supply Chain UK and Ireland, Becky Taylor, mentioned about the company’s goal to “create more efficient networks” through digitization, including a way to “serialize products to be able to track that product through its life.”
DHL on its own “can’t achieve those types of funding rates to create an attractive price [for customers], so we started to work with Trade IX,” as Taylor stated together with the announcement of the partnership.
The CFO of TradeIX, Daniel Cotti, remarked that the trade finance market relies on “manual, costly, tedious, error-prone and redundant processes” for the reason that it creates disconnected trade systems due to the prevailing lack of standards and interoperability.
The presentation showed that blockchain technology can power “leaner, more automated and error-free processes and increased visibility.” DHL is allowed by TradeIX’s TIX platform to “embe[d] multiple funding and risk mitigation options into their product offering.”
Last March, DHL and consulting firm Accenture also announced they had combined formed a blockchain-based supply chain prototype for the pharmaceutical industry. This points out that the aforementioned is not the first time DHL cooperated with blockchain tech.