- Pacific’s B2B cross-border platform aims to facilitate trade expansion
- China strengthens trade ties with Latin America
- Blockchain technology holds promise to improve food safety and quality
Different times call for different measures. In antiquity, caravans traversed the 4,000 miles between China and the West bearing silk, spices and news. They traveled along what is now known as the Silk Road, a term coined by German explorer Baron Ferdinand von Richthofen in the late nineteenth century. But that was then. Today, both goods and information can travel by other channels. While trade must go by train, boat and plane, trading information between East and West can occur electronically through a platform like the one being developed by Pacific Software, Inc. (OTC: PFSF). The tech company is out to facilitate trade between China and Brazil with an e-commerce trade platform that looks set to become an important hub in a digital Silk Road.
Trade between China and Brazil looks set to increase. Although China has been Brazil’s largest trading partner since 2009, trade between the two giants is a fraction of what it might be. Currently, exports and imports between the two countries run at around $40 billion per annum. This is a mere seven percent or so of the $600 billion traded between the U.S. and China. Moreover, the incentives for China to diversify its trading relationships are intensifying. The Trump administration’s approach is likely to keep trade between the two countries a matter of contention. As a result, China has been looking to do business further afield, and exhibitors from across the world, such as Pacific Software, having been showing up at China’s trade fairs.
Pacific Software took part in the recently concluded 124th Autumn Canton Fair, which ran from October 15 to November 4 in the city of Guangzhou. The company was a co-sponsor of ‘Latin America Night’, a featured event at the Fair, which is said to be China’s largest, typically attracting close to 20,000 vendors and about 200,000 buyers. Held on October 31, 2018, the Fair’s ‘Latin American Night’ provided an opportunity for Pacific Software to demonstrate its B2B e-commerce solutions and blockchain system.
Pacific’s Agri-Blockchain B2B e-commerce platform is designed to work as an overlay to existing international distribution channels. Initially, it will be employed to facilitate trade between Brazil and China, but it is expected to find additional application as China develops trading relationships in the Southern Hemisphere.
The PFSF platform will be developed using IBM’s Hyperledger Blockchain Backend as a Service (BaaS) infrastructure. The platform is expected to allow Pacific’s Agri-Blockchain technology to record, store and track a variety of digital product information, including farm origination details, batch numbers, factory and processing data, expiration dates, storage temperatures and shipping details. The B2B cross-border trade platform is expected to increase the diversity of China’s trading relationships, reduce costs by eliminating the plethora of middle men, shorten the trade process time cycle by replacing paper with digital records and, importantly, enhance food quality by providing faster alerts when food is contaminated.
The Silk Road team at Pacific Software is headed by Harrysen Mittler, Peter Pizzino and Wang-chan Wong. Mittler, CEO and chairman of the board at Pacific, has over 30 years’ experience in corporate finance, mergers and acquisitions, business administration and commerce. He held the positions of chairman and president at Grand Prix Sports, Inc., which owned a stake in Nordic Racing Ltd., a FIA F3000 racing team and the support venue for the Formula 1 International auto racing series. He also served as CFO at Nortia Capital Partners Inc., a publicly traded merchant banking company, and Autoworks International Ltd., a company quoted on the Frankfurt Stock Exchange.
Pacific’s president is Peter Pizzino, an executive with an extensive career, spanning over 25 years, in the securities and investment industry. Pizzino has served in several NYSE boutique securities firms on Wall Street and has played a part in generating several hundred million U.S. dollars in client offerings. Pacific’s technical advisor is Wang-chan Wong, PhD. He is the founder of KB Quest Group Inc., a spin-off from which, Cobalt 47 Technologies Ltd., will construct Pacific’s multi-lingual e-commerce B2B and B2C trade platform. KBQuest Group, Inc. is the leading Microsoft distributor in China and was named ‘Microsoft SQL Partner of the Year 2017’.
For more information, visit the company’s website at www.PacificSoftwareInc.com
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