Blockchain Agritech company Dimitra working with Saudi Arabia to develop Coffee business

Blockchain Agritech company Dimitra working with Saudi Arabia to develop Coffee business

Blockchain Agritech company, Dimitra, is working with Saudi Sustainable Union Trading company (SUT), an organization that develops innovative agriculture solution to establish a program for Jazan Coffee producers with Connected Coffee Platform for 700 farms.

Dimitra and SUT aim to promote the coffee industry within the country. By assisting in developing coffee farms in the Jazan region of Saudi Arabia, these farmers can further capitalize on their unique coffee heritage in Saudi Arabia.

The Jazan Coffee Cooperative (CCJ), a leading agricultural development institution and national expertise house in the agriculture sector, is using Dimitra’s Connected Coffee platform. The tailored Blockhain enabled platform provides straightforward, actionable insights to increase the quality and quantity of coffee yields, all sustainably and with longevity in mind. The platform also offers real-time track and trace capability throughout all levels of the supply chain, ensuring farmers’ produce is transparent and credible.

The project’s initial phase starts with 200 farms in 2023 and will reach 350 by the end of 2024. The project’s full scope is to implement the Dimitra Connected Coffee platform for 700 farms in 6 coffee provinces in the Jazan region that cultivate Arabica and Khawlani coffee beans.

Specifically, Dimitra’s Connected Coffee platform will help the farmers establish quality control measures. It will also assist with monitoring and maintaining the quality of coffee produced. Moreover, it will also encourage farmers to adhere to international quality standards. The app will also motivate farmers to consider obtaining certifications such as organic to enhance marketability.

Maged Elmontaser, Dimitra’s MENA regional Director, says, “The Jazan province is packed full of advantages. The six mountainous governorates have many investment opportunities, especially in agriculture and heritage sites. Exploring opportunities to integrate coffee farms into the Dimitra Connected Coffee platform will transform the coffee industry. In addition, it will revolutionize the history, cultivation, and brewing of Saudi Arabian coffee. They are leveraging knowledge exchange, access to markets, and improving the overall competitiveness of Saudi Arabian coffee”.

UAE National Bank of Fujairah introduces new revenue streams with Blockchain supply chain platform

UAE National Bank of Fujairah introduces new revenue streams with Blockchain supply chain platform

As the National Bank of Fujairah received two awards for Best Innovation in Trade Finance” and “Most Innovative Trading Platform” for the second consecutive year at the MEA Finance Banking Technology Awards 2023, it announced that its integration of Finverity, a  blockchain-based supply chain financing platform  has resulted in reduced operational costs and the generation of new revenue streams.

In October 2022, Finverity, and the National Bank of Fujairah launch of a partnership to grow supply chain finance (SCF) and account receivables (AR) finance volumes in the MENA region. The partnership has started with Redington Gulf, which will enable the service to reach the maximum number of IT resellers in the UAE.

Under the partnership, Finverity provides a curated origination pipeline, deal structuring and an end-to-end technology platform for ongoing operations and reporting, with NBF underwriting and funding SCF and AR assets on Finverity’s marketplace. The partnership clearly recognizes the key role that Finverity’s platform plays in providing client-centric solutions that channel capital to eligible corporates, enabling them to access trade financing more effectively.

At the time, Venkiteswaran (Venki) Ramasubhramoni, Head of Equipment and Technology Finance at the National Bank of Fujairah, stated, “As a key lender in the technology finance space, NBF has chosen to partner with Finverity as its fintech partner to offer supply chain finance solutions. Given the strategic match, with both parties focused on IT-related trade, we see wider possibilities in this collaboration and the value it could bring. Access to pre-analyzed and pre-negotiated deals on Finverity’s marketplace provides NBF with an effective way to fund a diversified pool of SCF & AR transactions, shorten credit approval cycles and scale our books efficiently. In parallel, Finverity’s technology platform facilitates our total digital offering, ensuring more transparency of the underlying assets being funded, as well as a better user experience.”

The partnership aims to close the $1.7 tn funding gap in global Trade Finance by making Supply Chain Financing of mid-market companies economically viable around the world. We will achieve this through the use of technology and a new approach, providing a more efficient allocation of resources and fair access to capital worldwide.

KSA government is all in for Blockchain and AI in logistics and supplychain sector

KSA government is all in for Blockchain and AI in logistics and supplychain sector

Shipsy, a leading global SaaS-based logistics management platform provider which utilizes technologies such as blockchain has signed an MOU with Monsha’at, the Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia, to support Saudi Vision 2030. This development took place at the sideline of Biban 23 Forum.

The MoU highlighted that Shipsy would offer its technology at a significant concession for all customers channeled through Monsha’at. The logistics SaaS provider also earmarked an investment worth USD 10 million over 5 years in the region to drive technology innovation and research and development.

This MoU’s objective will be to develop and support SMEs and entrepreneurship under the laws and regulations in force in the Kingdom of Saudi Arabia and commensurate with the available resources, aiming to drive growth and economic diversification.

“We are honored to partner with Monsha’at and thrilled to be a part of KSA’s Vision 2030. We are committed to drive technology inclusion in the Kingdom’s rapidly growing supply chain and logistics industry. Technologies like AI, automation, and Machine Learning, IoT, Blockchain and data analytics will create numerous employment opportunities and unlock efficiencies that will help logistics stakeholders build sustainable, agile and cost-efficient logistics processes,” said Soham Chokshi, CEO and Co-Founder, Shipsy.

Prior to this announcement, Alea Global Group Investments carried out a session on Blockchain in Trade Finance during their Alea Sessions edition in Riyadh KSA.

In November 2022, Saudi Arabian, Saudi British Bank (SABB) utilized Contour Blockchain platform to enhance trade finance by improving letter of credit and guarantee procedures for enterprises and international businesses. SABB worked with local fintech entity Bwatech.

UAE Restaurant pilots Blockchain Halal food traceability with DNA verification

UAE Restaurant pilots Blockchain Halal food traceability with DNA verification

A UAE restaurant is piloting Blockchain enabled halal food traceability with DNA verification with OneAgrix and its partner Blockchain OriginTrail, and Inexto.

OneAgrix, Inexto, OriginTrail and their ecosystem partners are pioneering and comprehensive halal digitalization solution, tracing beef from the DNA to QR code. With just a smartphone, food consumers can now verify the origins of their food, trace it through the supply chain, verify the authenticity of the halal certificate, and confirm that the product is genuine.

This end-to-end food traceability technology was showcased at a high-end restaurant in Dubai as a joint effort by OneAgrix, Inexto, OriginTrail, and their ecosystem partners for the launch of the traceability technology.

Technology that enables buyers to trace the supply chain journey of the food is important to build consumer trust and ensure food safety by the retailers selling their products, also enabling fast product recall. OneAgrix and eight ecosystem partners have developed an end-to-end supply chain traceability and transparency solution that is commercially viable. The solution will enable consumers and food distributors to provide consumers with clear information on the origin of their food and verify that their food is genuine.

The comprehensive food traceability solution connects the serving on the plate to the farm from which it came. Identification technology, provided by Inexto, traces the product through the supply chain, and DNA traceability verifying the connection to the animal itself. Together, they identify the type and origin of the meat, the identity of the farm and the meat processor, the authenticity of the halal certifications, and the health certificates required for processing and export.

Certificates are stored in OriginTrail’s network operating system, built on blockchain technology to maintain their integrity and all stored on OneAgrix’s platform.

Mr Philippe Chatelain, CEO of Inexto explained, “INEXTO Solutions are yearly securing over 100 Billion products across their global supply chains and delivers the highest degree of trust and security to consumers, customers, and governments. INEXTO is excited to be part of the Halal End-to-End traceability project with OneAgrix, thus providing halal food product consumers with a demonstrated proof of origin and authenticity.”

Žiga Drev, Founder and Managing Director at Trace Labs, the core developers of OriginTrail highlighted, “At Trace Labs, we are committed to building a more transparent, collaborative and trusted global economy with the OriginTrail Decentralized Knowledge Graph.This pilot is a comprehensive exercise following a multi-year integration of OneAgrix platform, focused on bringing the benefits of blockchain-based technologies closer to stakeholders within faith-based food supply chains around the world to advance transparency and trust.”

According to the ecosystem partners, Dubai was chosen as the city to launch this pioneering and comprehensive technology as the city is known as the ‘city of the future’, famous for its innovation as well as being a global halal hub. 

“We are delighted that Dubai is the destination to launch the world’s first comprehensive food traceability solution, which is in line with His Highness Sheikh Mohammed bin Rashid Al Maktoum’s national vision for UAE 2031, on the importance of food security by utilizing the latest in technology and innovative approaches,” said Ms Diana Sabrain, CEO of OneAgrix.

UK Agriculture and Horticulture Development Board (AHDB) s Halal Sector Manager, Dr Awal Fuseini said, “OneAgrix’s halal digitalization project would improve traceability and transparency in the halal sector. The UK meat industry is well positioned to continue to supply premium halal meat products to the growing halal market, this digitalization project is expected to increase consumer confidence in our products”.

OneAgrix, Inexto, OriginTrail and their ecosystem partners announce a pioneering and comprehensive farm-to-retail solution, tracing beef from the DNA to QR code.

IBM’s TradeLens transacts first electronic bill of Ladings in UAE

IBM’s TradeLens transacts first electronic bill of Ladings in UAE

TradeLens, a Blockchain enable supply chain platform has just issued the first bills of lading in UAE for both Safelin Freight and Fortuna in DMCC ( Dubai Multi Commodities Center)

Safeline Freight and Fortuna DMCC  through TradeLens have accessed  digital issuance, transfer, and surrender of original bills of lading using blockchain technology. Combined, the two companies move more than 7,500 containers annually in and out of the UAE.

TradeLens was jointly developed by Maersk and IBM. TradeLens allows an original bill of lading to be digitally issued directly from a carrier and moved electronically through its journey with all the stakeholders. This reduces the hassles of sending physical papers from one stakeholder to the other through a courier process, eliminates the costly possibility of documents getting lost or forged, and removes inefficiencies from manual processes.

Mr. Ahmed Beyi, CEO Safeline Freight, stated, “I was amazed at how easy and fast I can control all my bill of ladings through the TradeLens eBL. Since this is a cloud-based solution, all my consignments and documents are available to my team and me on any device anywhere in the world.” He added, “With the eBL now being accepted by major ocean carriers, ports, customs and a list that keeps growing, life has become easier for freight forwarders and our customers.”

The eBL technology developed by TradeLens provides a solution available to all shippers regardless of size or use case. The elimination of physical hand-off of documentation accelerated during the pandemic, and the modernization of supply chain infrastructure with the use of technology became even more critical. 

The TradeLens ecosystem consists of more than 1000 organizations, including major ocean carriers representing over two-thirds of the global market, and integrated with leading trade finance banks operating in multiple countries with a shared vision to help modernize the trade finance industry. The platform has already tracked more than 55 million container shipments, 4.7 billion events, and more than 25 million published documents.

Varun Kulshreshtha, Regional Head of TradeLens, Maersk West & Central Asia, said, “TradeLens eBL is our latest addition to our portfolio of products in the UAE which also include visibility and document collaboration making the TradeLens platform a very compelling proposition for any company’s journey to digitize the supply chain. The eBL has proven to be very popular with customers and in a few short years should become the default way of managing shipments in our region.”

UAE DP World’s Metaverse supports cost effective digital supply chain

UAE DP World’s Metaverse supports cost effective digital supply chain

At The World Economic Forum in Davos UAE’s DP World, a global end to end logistics provider announced that it would be utilizing the metaverse not for social networks, entertainment or enhancing customer experience but for increasing operational efficiency.

This is the first time that a metaverse solution is being utilized in the logistics industry and for operational and educational purposes.

The Metaverse, DPMETAWORLD, will aim to bring cutting edge virtual solutions to real world supply chain challenges driving both efficiency and transparency. Sultan Ahmed Bin Sulayem, Group chairman and CEO of DP World announced this during the World Economic Forum Annual meeting at Davos.

The DPMETAWORLD platform will be launched at the end of 2022. Bin Sulayem said: “At DP World, we don’t respond to change – we think ahead and anticipate it. We know that the industries of the future will not be industries of the hand, but of the mind. So we have to deploy industry-leading solutions and technology to embrace this shift. Our expansion into the metaverse will not only enhance customer experience and operational efficiency, but also allow us to be more sustainable and resilient for the future. These are vital across all our global operations.”

In DP World Tweet they state, for us the metaverse is not a buzzword but a business tool. 

DP World’s operations, span six continents, 80 ports and various logistics operations, the company is uniquely positioned to help customers accelerate the flow of goods into its logistics networks.

Mike Bhaskaran, group chief operating officer of digital technology at DP World, said: “The DPMETAWORLD will allow us to provide highly flexible, cost-effective supply chain solutions. The real benefit for our customers is being able to see and understand the whole supply chain from end to end, with full visibility, and create alternate routes in case of logistics bottlenecks. We are very excited about providing these unique solutions to help resolve real-world supply constraints.”

DP World will explore metaverse applications for its services, including simulations of warehousing and terminal operations, in so-called digital twins ,3D virtual versions of physical assets,  as well as container and vessel inspections.

Other customer-focused applications include enhanced retail market access, with the potential to extend DP World’s 1600+ showrooms at the Dubai Traders Market to an unlimited number of customers through an immersive shopping experience.

DP World also plans to benefit from the metaverse through fully immersive virtual training for its staff. In 2021, its Port & Terminal Training Centre in Jebel Ali trained more than 10,000 employees, totaling close to 34,880 training days.

As per DP World, replacing physical training with an immersive alternative in the metaverse will reduce the time it takes to train operations teams by 50%, slashing costs as well as increasing efficiency and safety and saving over 17,000 training days just in the UAE.

DP World since 2018 has been at the forefront when it came to digitization efforts utilizing Blockchain. In 2019, DP World signed an MOU with Dubai Chamber of Commerce and Industry on the Digital Silk Road Project which is blockchain enabled.

DP World also worked with Infor, a global leader in business cloud software specialized by industry,  for its Blockchain enabled Infor GT Nexus Commerce Network as the technology backbone to power its Global Supply Chain Platform Initiative.