ShipChain, a blockchain-based logistics company, announced a new partnership with the B2B e-commerce platform provider, Distichain to help small- and medium-sized businesses access global markets.

In a statement, ShipChain said this partnership creates a significant impact on enterprises, facilitating the path to full digitization and the ability to perform their B2B transactions seamlessly from one screen, with new track-and-trace visibility technology and elimination of expensive friction points.

“This new partnership with Distichain started with a vision to bring an advanced technology platform to simplify the complexity of global supply chains. We have delivered a true supply chain control tower approach, powered by blockchain to help small and medium global businesses monitor and track their shipments all over the world,” said John Monarch, CEO, ShipChain.

ShipChain said currently, a large percentage of small and midsize enterprises lack the volume or technical capabilities to connect to larger supply chains and logistics companies - and therefore are unable to fully participate in global cross-border trading.

For instance, it explained how many businesses still handwrite bills of lading and faxed confirmations to partners across the world. Not only is this process outdated, but it’s also expensive and lacks basic security features.

ShipChain and Distichain plan to offer their services together on a larger, joint platform. Distichain’s technology will bring in their established marketplace to companies of all sizes, along with the documentation pertaining to different shipments to be stored on the blockchain.

ShipChain will then track and trace the shipment with visibility heightened via blockchain technology through its delivery. Once the shipment has been tracked, payments are handled via Distichain’s system. 

“In early 2018, we realized that blockchain and AI were on the verge of revolutionizing trade finance and supply chain, as part of the fourth industrial revolution. Accordingly, we saw an opportunity to build a trade engine that would be able to bring the most innovative solutions in this field and make them accessible to millions of potential companies via a simple B2B e-commerce interface,” said Haisam Jamal, CEO, Disitchain.

About ShipChain.

ShipChain Inc. is a blockchain-based solution provider for the transport and logistics industry. Distichain is a B2B e-commerce platform that provides public and private enterprises with tailor-made marketplaces, helping them digitize their businesses and industries.