Matthew BoylePairpoint, a joint venture between Vodafone and Sumitomo Corporation under the “economy of things” initiative, has teamed up with Deloitte to validate IoT data in the global logistics market. Leveraging Vodafone’s blockchain-based Digital Asset Broker (DAB) IoT trading platform, the partnership aims to instill confidence in supply chain businesses regarding trade compliance and freight tracking.
The collaboration with Deloitte and Nexxiot targets industries such as mechanical, energy, manufacturing, and supply chain, utilizing blockchain technology to verify transactions between IoT devices seamlessly. Deloitte’s KYX solution, powered by Know Your Client and Know Your Cargo services, enhances customs clearance and facilitates the digital transformation of the logistics sector.
The audit trail generated by DAB ensures compliance with governmental regulations and enables the creation of customizable smart contracts, further digitizing and automating supply chain operations. Pairpoint’s CEO, Jorge Bento, emphasizes the benefits of promoting transparency and data provenance in maritime logistics, aiming to streamline port clearance processes.
Deloitte’s world IoT lead, Helena Lisachuk, underscores the importance of establishing “Green Lanes” to minimize disruptions in international cargo transit, emphasizing collaboration with port authorities and justice organizations. Nexxiot CEO Stefan Kalmund highlights the role of data provenance in addressing functional inefficiencies and enhancing safety across various stakeholders in the global goods movement.
Vodafone: Blockchain-enabled Freight Tracking: Partnership Powering Confidence in IoT Data for Global Logistics
In order to confirm the validity of IoT data in the global logistics market, Pairpoint, Vodafone’s “economy of things” joint venture (JV) business with Japanese trading and electric services company Sumitomo Corporation, has partnered with professional services firm Deloitte. The organization is providing the service as a way for supply chain businesses to gain confidence in trade compliance and freight tracking.
Under the guise of the “economy of things” Vodafone and Sumitomo unveiled an 80/20 standalone JV earlier this year to spur the development of automated machine-to-machine IoT transactions. The JV now goes by the name Pairpoint. Sumitomo is focused on bringing in more investors, partners, and customers. Vodafone has contributed its blockchain-based Digital Asset Broker (DAB) IoT trading platform to the business.
Their new partnership with Deloitte and Zurich-based Nexxiot is being pitched to the mechanical, energy, manufacturing, and supply chain industries. It uses the DAB platform, which uses blockchain to immediately verify transactions between IoT devices ( without human intervention, but with human control ). According to Vodafone, it can enhance the “provenance of data relating to the routes and contents of shipping containers.
Streamlining Global Logistics: Deloitte’s KYX Solution and Blockchain Innovation
Deloitte’s KYX solution, which is the result of a distinct partnership with Nexxiot and consists of the UK-based company Know Client and Know Your Cargo services as well as its own freight solutions and sensors. According to a statement from the group, their blockchain-based freight-data reporting service will “speed up customs and switch authority clearance and expedite the modern transformation of the logistics sector.”
The audit trail produced by DAB, they said: “will help organizations meet upcoming governmental requirements, including accurate reporting of the sources ‘ origins within their supply chains and ensuring the integrity of shipments and related records.” Customers can also create customizable smart contracts using DAB, which furthers the digitization and automation of supply chain operations.
“This enables shipping containers to become intelligent agents capable of seamless interaction within the Economy of Things, including features like customs self-clearing containers and end-to-end shipping document digitalization,” they continued.
Forging Green Lanes: Advancing Maritime Logistics with IoT and Blockchain Integration
By promoting principal and data provenance in the shipping industry, Jorge Bento, chief executive at Pairpoint, said: “We aim to offer considerable advantages to stakeholders in this sector. Our objective is to improve the effectiveness of maritime logistics while streamlining the process of clearing ports and customs.”
We are committed to establishing “Green Lanes” to reduce disruptions for cargo in international transit, according to Helena Lisachuk, world IoT lead at Deloitte. To accomplish this, near cooperation with port authorities and interaction with international and local justice organizations are necessary. Deloitte’s expertise and the technology and knowledge of Nexxiot and PairPoint to enable real-time monitoring and door-related event tracking offer innovative mechanisms to monitor data integrity during cargo movements.
We aim to identify functional inefficiencies or safety concerns while providing data provenance to various stakeholders, including shippers, carriers, port authorities, and trade financing partners, according to Stefan Kalmund, CEO of Nexxiot. This is a major step toward advancing the global goods movement and connected cargo’s digital economy.
