In a key note presentation at the European Money2020 conference in Amsterdam, DHL announced its cooperation with TradeIX.
Becky Taylor, Vice President of Commercial at DHL Supply Chain UK and Ireland, spoke about how the company has been looking to “create more efficient networks” through digitization, including a way to “serialize products to be able to track that product through its life.”Taylor then announced the partnership by saying that DHL on its own “can’t achieve those types of funding rates to create an attractive price [for customers], so we started to work with TradeIX.” (Source: Cointelegraph, June 5th, 2018)
DHL and TradeIX presented the first blockchain-enabled trade finance transaction with financing provided by Standard Chartered Bank and credit risk mitigation from global insurer AIG. The receivable finance program enables the logistics company to help its customers extend their payment period whilst maintaining the company’s receivables at current terms. TradeIX provided its TIX platform powered by permission-based distributed ledger technology. By using this shared ledger, the logistics company can have their invoices placed securely on the TIX platform, giving real-time visibility to manage customer terms and credit risk.
If you want to read the detailed case study, please click here.