TOP > News > PH-Based Blockchain Logistic Solutions XLOG To Get Foothold in Middle East and North Africa Region Via New Deals
October 1, 2019 Updated

100% developed in the Philippines, it leverages new technologies to create “complete documentation of door-to-door shipment from the country of origin to the country of destination.”

October 2, 2019 – Local logistics company Shiptek Solutions has signed new partners for its blockchain logistics platform XLOG.

As reported by the Manila Standard, Shiptek has inked partnership deals with Future Greens Commercial Broker and Quadd Solutions. Future Greens is a digital platform solutions provider in the MENA (Middle East and North Africa) region while Quadd Solutions is a Sri-Lanka-based “self-service solutions for sophisticated modern lifestyle.”

XLOG is an end-to-end digital logistics platform that helps businesses manage their shipments. 100% developed in the Philippines, it leverages new technologies to create “complete documentation of door-to-door shipment from the country of origin to the country of destination.” Leveraging blockchain technology, chief operations officer (COO) Joey Union said it is impossible to “tamper or manipulate information,” disallowing anyone to do shady transactions because any data inputted are immutable.

Deals with the Dubai-based and Sri Lanka-based companies will allow XLOG to have a foothold in the MENA region and nearby territories. The deal with Quadd Solutions, in particular, “will open doors for Filipino companies to access the so-called Silk Road Markets,” said Mr. Union.

Streaming logistics processes through XLOG will allow users to directly transact with service providers and reducing costs. In a previous statement via MSN Money, chief marketing officer Nico Gonzales explains, “many do not have the luxury of being able to use a freight forwarder, whose business is really a cost-plus model that marks up around 10-25% of the service. So by being able to go direct to a shipping line, all of a sudden, the cost will fall.” XLOG also features online booking from logistic providers from shipping, storage, and trucking, financial transactions, bank transaction reconciliations, and GPS monitoring.

Previously, Shiptek had a deal with UnionBank Fintech Subsidiary’s UBX. UnionBank integrates its e-commerce payment gateway and provides expertise in technology development and blockchain.

When XLOG was launched last year by Shiptek, the company said its blockchain solutions can prevent, if not eliminate tampering and smuggling. Shiptek Founder Eugenion Ynion Jr. said that one cannot simply attempt to smuggle good if the paper trail is searchable and traceable in the blockchain, which does not allow fake identities, addresses, and businesses.

Source: Manila Standard

This article is published on BitPinas: PH-Based Blockchain Logistic Solutions XLOG To Get Foothold in Middle East and North Africa Region Via New Deals

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