Swivel Software Joins Global eTrade Services’ Open Trade Blockchain

Asia Blockchain Review
October 20, 2019
Swivel Software Joins Global eTrade Services’ Open Trade Blockchain

Global eTrade Services (GeTS), an international trade platform, has officially announced that Hong Kong-based logistics technology provider Swivel Software Ltd and its entire network of customers will operate on GeTS’ Open Trade Blockchain (OTB), according to a report from PR News Wire. 

Swivel Offering Enhanced User Experience over Blockchain

Swivel is a logistics technology provider of software services that facilitate tracking features of goods for a supply chain of importers/exporters, truckers, forwarders, customs brokers, insurance and financial service providers, and air and ocean carriers. Swivel currently has stakeholders in more than 30 countries.

OTB is a permissioned blockchain of trusted nodes built to secure the exchange of shipment as well as commercial documents such as Bill of Lading, Commercial Invoice, Insurance and Contracts. Documents are embedded on a secure blockchain platform that ensures transparency. 

As the blockchain is visible to all the players in the supply chain, possibilities of a document not being provided or going missing, or a document with the wrong information being supplied, is ultimately eliminated.

The immutable nature of the blockchain will be useful when conflicts or disputes occur, as the concerned parties can consult the documents on the blockchain to resolve the situation.

GeTS-Swivel Partnership Improves Global Supply Chain Network

Chong Kok Keong, CEO of GeTS, stated: 

“We are delighted that Swivel is leveraging on our blockchain platform to enhance their supply chain’s data authentication. By having peace of mind with the use of trusted data, we can make global trade more accessible, easier and predictable.”

“We are excited about this collaboration with GeTS and together be part of a global platform,” Mandy Mak, COO of Swivel, said. “Alongside with GeTS, we look forward to new endeavors and opportunities to offering more trusted and value-added services to our worldwide network customers in the supply chain sector.”

Source: https://www.prnewswire.com/ 


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Tencent Granted Blockchain Bank License in Hong Kong
Major Chinese tech company Tencent has recently been granted a blockchain bank license from the Hong...

November 19, 2019

US Taps Mavennet to Track Canadian Oil and Gas with Blockchain
Canada’s own Mavennet has been selected by the US Department of Homeland Security to develop and imp...

November 19, 2019

Tradewind Developing Blockchain-based Platform for Precious Metal Trade
Fintech company Tradewind Markets has announced that it will launch a blockchain app for the preciou...

November 19, 2019

Marseille Port Successfully Ends Trial for Blockchain System
Marseille Fos Port Authority has successfully carried out a blockchain test to develop solutions tha...

November 18, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us