Eximchain releases supply chain platform for blockchain

EXIMCHAIN

Eximchain releases supply chain platform for blockchain

Eximchain is a platform that is set to link up supply chain management around the world with blockchain technologies, as one of the newest digital inputs to supply chains begins to take further hold.

With blockchain gaining increased attention worldwide, it would appear that its capacity to deliver has now been welcomed by even the leading companies. Eximchain is set to bring together a range of partners in different stages of the supply chain, including those on the Fortune 500.

It will also include some tech companies from China that specialise in delivering scalable platforms, and also have experience in keeping blockchain networks fully secure.

Eximchain will be released on Friday. It was originally built in 2015 by researchers at the Massachusetts Institute of Technology, where it was created to help improve efficiency within large, global supply chains.

Particular areas that it is expected to provide the most benefit to include managing inventories, finance and sourcing procedures.

The blockchain market is expected to top $3bn before 2021, and given its capacity to dramatically improve the scope of transparency within huge supply chains, it is expected that more and more companies will choose to get in on the act. This has already seen Eximchain secure $20m of funding to enable its launch this Friday.

Eximchain’s founder and CEO Hope Liu acknowledged that there were issues with “lack of transparency, connectivity and agility” within supply chains at present, and said that they now had a solution that would utilise “technology to help them reduce costs and be more efficient in their processes”.

Liu also said that a key driver was the massive rise in expansion of e-commerce as a sector, which meant that there were new players in the market that had young supply chains and could more easily apply changes with technology. Its mainnet function will initially be released across 14 regions.

 

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