- China is Brazil’s largest trading partner
- Chinese President Xi Jinping promoted trade relations at China International Import Expo on November 5-10
- eCommerce platforms like Pacific Software’s Agri-Blockchain expected to boost trade
Trade between Brazil and China, the largest countries in South America and Asia, looks set to increase further after the recently concluded import fair put on by the Chinese authorities. The gravity of the trade initiative was marked by the presence of President Xi Jinping, who gave the opening address to the exhibitors gathered at the National Convention & Exhibition Center in Shanghai, China. The China International Import Expo (CIIE) ran for six days, November 5-10, in China’s largest city. The official word is that Brazilian exporters will have better access to Chinese markets through platforms like Alibaba.com and Tmall.com, highlighting the importance of such technologies. Given its capability to provide a highly effective trust mechanism that can track complex transactions using cryptographically secure Hyperledger Blockchain technology, the proprietary e-commerce trade platform under development by Pacific Software, Inc. (OTC: PFSF) could also play a role in boosting trade between the Asian and Latin American giants.
Many barriers separate Brazil from China. The metaphorical crow must cross two continents – Africa and Europe – if it embarks on a flight path from Brazilia to Beijing. With a time difference of 10 hours between the two capitals, day and night are inverted, reflecting their locations on the globe. In addition to which must be added formidable linguistic and cultural differences. Yet, since 2009, China has been Brazil’s largest trading partner.
The potential for further development of trade is substantial, as a comparison of China-U.S. and China-Brazil trade will reveal. In 2017, China bought $130 billion of U.S. goods; it sold $505.5 billion worth to the U.S. However, Brazilian exports to China run at around $40 billion per annum, while imports from China are even less than that. As trade tensions between China and the U.S. escalate, there is increasing incentive for Beijing to expand this trading relationship by leveraging an ecommerce platform like the one under development by Pacific Software.
The technology, designed to work as an overlay to existing international distribution channels, is meant initially to facilitate trade between exporters in Brazil and importers in China, but, naturally, it has wider application. It is being developed using IBM’s Hyperledger Blockchain “Backend as a Service” (BaaS) infrastructure. The IBM BaaS platform has the capability to record, store and track a variety of digital product information, such as farm origination details, batch numbers, factory and processing data, expiration dates, storage temperatures and shipping details. Pacific Software has commissioned Cobalt 47 Technologies Ltd., a spin-off of KBQuest Group, to construct the 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.”
PFSF is advised on technical issues by Dr. Wang-Chan Wong, founder and chairman of KBQ Quest Group Inc., the parent company of KB Quest Hong Kong Limited, who has over 25 years of global IT enterprise expertise. Wong has also served as adviser to the California Institute of Food and Agriculture Research (CIFAR) since 2015 and is well positioned to provide computer science knowledge to the agriculture sector globally. He has been a tenured professor of information systems and computer science at California State University for over 28 years, has written 43 technical papers and has developed numerous software systems and applications for Oracle, Microsoft and IBM.
For more information, visit the company’s website at www.PacificSoftwareInc.com
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