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BANGALORE, India — A division of professional services firm Deloitte, one of the “Big Four” accounting firms, will use the Polkadot-based Kilt blockchain to offer logistics and supply-chain services focused on the shipping industry.
Ingo Rube, founder of the KILT Protocol, told CoinDesk in a fireside chat at the India Blockchain Week conference that Deloitte is working with Nexxiot, a supply-chain technology company, to offer a new type of logistics service called KYX.
KYX is a combination of Know Your Client (KYC) and Know Your Cargo – two processes that identify and verify the client's identity and their shipped goods, respectively. This system is built on the Kilt network.
"Using decentralized and open-source solutions 'Built on KILT,' any entity could create a service built on a blockchain without having to deal with cryptocurrencies or needing blockchain experience," Rube said in a statement.
Shipping giant Hapag-Lloyd will be the first to implement KYX, followed by telecommunications giant Vodafone. Hapag-Lloyd is said to be equipping some 1.5 million containers with devices that can tracked to show that they are secure and have not been opened.
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KILT Protocol’s native kilt (KILT) tokens are up 2.5% in the past 24 hours, data shows.
Edited by Sheldon Reback.
