Graph Blockchain taps into market that could be worth $15.5tn in five years

The South Korean firm has focused on the development of technology that could potentially revolutionise logistics and data management for multinationals

Graph Blockchain (GBC) claims it has become a leading blockchain-based solution provider in data management for global logistics – a market that is estimated to reach $15.5 trillion by 2023.

“By participating in the development of technology that could revolutionise logistics for multinationals, Graph has secured a solid position with the goal of becoming a leading solution provider in the sector,” a spokesman said.

By focusing on developing a global logistics ecosystem, Graph believes its blockchain solution “would reduce downtime by providing real-time monitoring, tracking and business intelligence analytics”. This will enable companies to save on costs by reducing delays and minimising the impact of lost goods due to cargo theft and fraud. It will also help increase efficiency across all activities within the so-called Supply Chain Management (SCM), including transportation, warehousing, inventory management, the flow of information and order processing.

“With globalisation and increased consumption of various products worldwide, efficient SCM and the role of freight and logistics has become increasingly complex,” says Graph.

Graph President and COO Peter Kim adds that “while blockchain data management is commonly viewed as a nascent technology, the increasing demand to address efficiency issues in supply chain management clearly dictates the need for rapid adoption of blockchain solutions such as ours”.

Kim says Graph has become a trusted solutions provider through “our successful partnerships. And granted how big these industries are set to grow, this is just the tip of the iceberg”.

In the newsletter, Graph also announces the signing of a Memo of Understanding (MOU) with the governmental Korean Trade Organisation (KTNET) to develop a blockchain-based electronic trade services platform.

KTNET reports $5.57 billion annually in trade and services and links 97,000 customers and trade-related organisations through its trade system.

Graph also says it is in the process of listing as a public company on the Canadian Securities Exchange, by way of a reverse-takeover, resulting in a pre-financing valuation of approximately $39 million.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

telegram

Previous Article

Q&A: Pixie's Greg Barden

Next Article

North Korea to hold a crypto and blockchain conference in October

Read More Related articles

Latest guides

Find in-depth articles, guides and videos designed to give you a better understanding of Bitcoin, DeFi, trading, security and much more.

Get started
NULL