IQAX Powers GSBN’s Blockchain Platform

Solution provider to spearhead the acceleration of digitalization in the shipping and logistics ecosystem for transparency and a harmonized global trade environment

HONG KONG SAR
– Media OutReach – 17 March 2021 – IQAX
Limited, a leading-edge information technology company
providing intelligent digital solutions for global shipping and trade, today
announced it has been officially commissioned by the Global Shipping Business
Network (GSBN) to develop, enhance and operate the world-class blockchain
platform. The platform will enable real-time data sharing among authorized
parties using blockchain technology for more transparent end-to-end supply
chain visibility.

As a trusted partner IQAX will
enable GSBN and its future members to develop standards and functionalities to
seamlessly connect stakeholders in the global shipping and trading ecosystem while
ensuring data integrity, security and service excellence are maintained.

Over the past year, the global
health crisis catalyzed the need for business data and transparency in the
supply chain as many businesses worked remotely, minimized contact points, and responded
to the rapid changes in consumer demand. Many of those in the transportation
and logistics sector faced mounting pressure on operations due to various challenges
from labor availability, restrictive health protocols, to shifting trade patterns.
In this environment, the need for a blockchain platform to facilitate tight,
multiple-domain cooperation amongst every party in the global supply chain has
become more important than ever before.

IQAX strives to create a
harmonized global trade environment for the stakeholders in the multiple-domain
ecosystem through its application development effort, products and services. Building
solutions based on digital technologies including blockchain, IOT and AI, IQAX
is connecting parties across multiple domains and creating intelligent
solutions which help businesses embrace digitalization, information sharing and
analysis, and respond faster to supply chain disruptions.

IQAX inherits the initial
development of the blockchain platform from its business affiliate, CargoSmart
Limited. Evolving and expanding upon its blockchain focus, IQAX will enable
decentralized collaboration and governance to optimize cross-domain synergies
and facilitate multiple-domain connectivity for the broader shipping ecosystem.

Bertrand Chen, Chief Executive
Officer, Global Shipping Business Network, said “We are pleased to have IQAX as
the platform provider for GSBN. We share the same vision of enabling and
accelerating the digital transformation of the shipping industry. Through the
platform built by IQAX, we will be able to bring all stakeholders together in a
secure, neutral, trusted and equitable way, from logistics service providers to
financial institutions. We aim to increase the speed of logistics and the ease
of conducting trade globally, ultimately benefitting all parties involved. We
are here to simplify trade for all.”

Moving forward, IQAX will help
GSBN drive digitalization mandates that best meet the needs of the global trade
ecosystem. IQAX plans to build on its vision to digitalize to create a
harmonized global trade environment, as well as offering technologically
advanced applications for shippers and logistics service providers to address current
challenges through smart solutions which enable contactless interactions,
tracking of physical cargo and alerts with recovery recommendations.

Sign
up for updates about solutions to increase visibility for the global trade ecosystem
at www.iqax.com,
and follow IQAX on LinkedIn and Twitter.