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Published: 22 June 2017
1-Stop and TBSx3 partner on blockchain
Logistics system specialist 1-Stop has teamed with blockchain startup TBSx3 on a supply chain security initiative.
The companies have announced a new alliance to develop a blockchain-based security architecture to combat the movement of fake products.
TSBx3 has developed security architecture for veriying the authenticity of goods in transit, and recently completed a global road and sea supply chain trial tracking the movement of bottled wine from Coonawarra in rural South Australia to the Port of Qingdao.
“Partners in the successful trial included: DP World Australia (one of the five largest port operators in the world), DB Schenker (No.1 in European land transport and No.3 in global air and sea freight), Hamburg Sud (one of the world’s 10 largest container shipping lines) and Australian wine producer Ius, which exports seven product lines into the rapidly growing Chinese wine market. KPMG verified the custodial handovers for the integrity of the product in the 8,100-km. chain, validated the product at the end of the chain and confirmed that the system could potentially detect fake or duplicated product,” 1-Stop stated.
1-Stop Connections has grown beyond its origins as vehicle booking system supplier into a company that develops “multi-faceted platforms to integrate all logistic supply chain information for port operations”. The Alliance with TBSx3 is “an important step in building a global consortium to ensure the integrity of product at every step of a supply chain from the farm and factory gate to the consumer,” said TBSx3 founder and director, Mr. Mark Toohey.
In particular the companies are targeting the movement of fake medicines, noting that the World Health Organisation estimates 200,000 people a year die from taking fake anti-malarials. alone.“Malaria kills one child dies every 30 seconds.”
According to 1-Stop Connections CEO Mr. Michael Bouari, leveraging software from both companies can help secure supply chains. “A new security benchmark for global supply chains is created when we combine TBSx3’s cryptography and blockchain security with our highly secure port community system ,- 1-Stop’s flagship product - Vehicle Booking System (VBS) .,“ he said.
1-Stop’s Vehicle Booking System has provided ports like Manila with a system for tracking trucks coming to the terminal. Using the systems “all legitimate actors in the supply chain know where a truck is, who is driving it, who owns it, where it comes from and to where it is going, so they know what is being shipped, where it is and who is handling it,” said Bouari.
“We are keen to see how TBSx3’s dynamic distributed ledger, can help our industry monitor the vital parts of the supply chain. We all need even better data on the what, where, when and who. Security will be strengthened if we have a deeper and more transparent understanding of what is being delivered, where it is, when it began the journey, when it was handed over along the chain, when it will arrive and who is at any time responsible for it – from beginning to end.
"The technology being developed by TBSx3 is of great interest because it combines the data currently held in silos by the various supply chain participants. Now we will all be able to have a new level of trusted transparency across the entire supply chain.”