TBSx3 Launches Blockchain Consortium with DB Schenker and DP World to Protect Global Supply Chains

Logistic and supply chain giants DP World Australia and DB Schenker have announced the creation of a consortium, facilitated by blockchain startup TBSx3, using blockchain technology.

According to spokesmen, the participants will use blockchain architecture developed by Australia-based TBSx3 to combat the global counterfeit goods industry, protect global supply chains and ultimately help companies restore consumer trust in supply chains.

The alliance tested and utilized technology developed by TBSx3 to complete one of the largest blockchain trials to secure cargo across a global supply chain in Q2 2017, which tracked the distribution of wines from Coonawarra, South Australia to the port of Qingdao in northeastern China.

By collaborating with the Australian branches of DB Schenker and DP World, the fifth largest container port operator globally, TBSx3 maintains that is positioned to be a “world player” in providing blockchain-based global supply chain strategies.

TBSx3 formed the consortium after the successful completion of one of the largest blockchain trials to secure cargo across the global supply chain in May 2017, which tracked the distribution of wines from Coonawarra, South Australia to the port of Qingdao in northeastern China. The trial was verified by 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. 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,” said Pieter Vandevelde, Chief Revenue Officer of TBSx3.

In an interview, he added: “We are willing to do business with anyone serious about ridding the world of fake products and protecting consumer trust.”