Pairpoint (Vodafone and Sumitomo Corporation’s Economy of Things business), Deloitte, and Nexxiot have joined forces to offer digital services that speed up the flow of goods worldwide.
The new service will automatically verify the provenance of data on the movement and content of cargo, allowing companies to improve freight handling whilst complying with trade laws. This will lead to faster customs and port authority clearance, and expedite the digital transformation of the logistics sector.
The partnership combines Pairpoint Digital Asset Broker (DAB) platform, which among other things can improve the provenance of data relating to the routes and contents of shipping containers, with KYX, a new service comprising Deloitte’s Know Your Client and Know Your Cargo services, and Nexxiot’s freight solutions, including smart connected sensors.
The KYX solution is the result of a recent partnership by Deloitte, and Nexxiot, which specialises in enabling the autonomous collection of asset data to optimise the costs in moving freight, including shipping containers and railcars.
The audit trail generated by DAB will assist organisations in meeting forthcoming regulatory requirements, including the accurate reporting of the origins of sources within their supply chains and ensuring the integrity of shipments and associated records. DAB also enables customers to create programmable smart contracts, further advancing the digitalisation and automation of supply chain processes. This enables shipping containers to become intelligent agents capable of seamless interaction within the Economy of Things (in which goods and devices transact securely with each other), including features like customs self-clearing containers and end-to-end shipping document digitalisation.
Jorge Bento, CEO of Pairpoint, said, “Through this collaboration, we aim to offer significant advantages to stakeholders in the logistics sector by promoting surety and provenance of data in the shipping industry. Our goal is to enhance the efficiency of maritime logistics and streamline goods clearing customs and ports without introducing additional risk.”
Stefan Kalmund, CEO of Nexxiot, commented, “Our strategic collaboration with Deloitte, Vodafone, and Sumitomo Corporation aligns with our vision to enable smart assets out of existing shipping containers and railcars. We aim to identify operational inefficiencies or safety concerns while providing data provenance to various stakeholders, including shippers, carriers, port authorities, and trade financing partners. This is a significant step in supporting the digital economy of connected cargo and global goods movement.”
